economics

The lower the price of a commodity, the greater the quantity demanded. This is based on the assumption that the consumers’?

A. income is diminished B. income remains the same C. utility is diminished D. population is high Correct Answer: Option…

6 years ago

Given that TR is total revenue, then TRn -TR (n-1) can be used to find the?

A. marginal revenue B. marginal cost C. average cost D. average revenue Correct Answer: Option A A. marginal revenue

6 years ago

What must be added to variable cost to give total cost?

A. average total cost B. average variable cost C. fixed cost D. marginal cost Correct Answer: Option C C. fixed…

6 years ago

When population is classified according to professions, it is called?

A. geographical distribution of population B. age distribution of population C. sex distribution of population D. occupational distribution of population…

6 years ago

A country where labour is not sufficient to make proper use of natural resources is said to have an?

A. active population B. optimum population C. over-population D. under-population Correct Answer: Option DD. under-population  

6 years ago

One characteristics of labour is that it is?

A. fixed in demand B. fixed in supply C. mobile D. untrainable Correct Answer: Option C C. mobile

6 years ago

The Malthusian theory of population does not concern itself with?

A. growth of food production in arithmetical progression B. growth of population in geometric progression C. positive check to population…

6 years ago

The reward which accrues to labour for participating in production is?

A. interest B. wage C. bonus D. profit Correct Answer: Option B B. wage

6 years ago

The satisfaction derived from the use of a commodity is its?

A. demand B. elasticity C. wealth D. utility Correct Answer: Option D D. utility

6 years ago

The three principal economic units in any system are?

A. trade, industry, and banking B. workers, consumers, and shareholders C. households, firms, and governments D. companies, industry and plants…

6 years ago