economics

Poverty simply refers to the low level of?

A. planning B. per capita income C. rich people D. labour face Correct Answer: Option B B. per capita income…

6 years ago

The business risks of a public corporation are borne ultimately?

A. by the government B. by the treasury C. by the rate payers D. by the taxpayers Correct Answer: Option…

6 years ago

One of these is not a problem of agriculture?

A. provision of employment B. lack of preservation and storage facilities C. land tenure system D. poor transportation systems Correct…

6 years ago

If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the?

A. buyer B. seller C. government D. local authority Correct Answer: Option B B. seller Explanation The seller or producer…

6 years ago

The determination of wages in a labour market depends on the?

A. Government B. People C. Interaction between demand and supply of labour D. Economy Correct Answer: Option C C. Interaction…

6 years ago

If wage rate is less than the average revenue product, the firms would be earning?

A. loss B. super normal profit C. normal profit D. higher revenue Correct Answer: Option B B. super normal profit…

6 years ago

Let capital formation = CF, Production = P, C = consumption. Then CF =_______?

A. P - C B. P + C C. PC D. P/C Correct Answer: Option A A. P - C…

6 years ago

Which of the following persons is engaged in “Secondary Production”?

I - a bricklayer II - an automobile assembly-line worker III - an accountant IV - a cinema projectionist A.…

6 years ago

Adam Smith’s Theory of value stated that the value of a commodity depended on?

A. The market price in a free market over a long period B. The over-all cost of production of the…

6 years ago

Total expenditure on a commodity is represented by the area TUVW. Consumer surplus is represented by?

Consider the diagram below which shows a demand curve (d). Total expenditure on a commodity is represented by the area…

6 years ago