Economics 1 | Study Mode

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Question 21
A
profit maximization
B
a wind fall
C
government subsidies
D
economics of scale
Explanation

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Correct option: D
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Question 22
A
The general manager
B
The managing director
C
The owner of 51% of shares
D
The board of directors
Explanation

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Correct option: D
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Question 23
A

AC = TC; TC = VC + FC

B

AC = (TC) Q; TC = VC + FC

C

AC = TC; TC = (VC)(FC) Q

D

AC = TC- FC; VC = TC- AC

Explanation

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Correct option: A
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Question 24
A
Birth rate + death rate + migration rate + immigration rate
B
Birth rate death rate + migration rate -immigration rate
C
Birth rate + death rate migration rate + immigration rate
D
Birth rate death rate emigration rate + immigration rate
Explanation

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Correct option: D
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Question 25
A
retail business may not be registered or incorporated
B
retail business requires less expertise
C
retailers deal with final consumers
D
all retail businesses are large enterprises
Explanation

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Correct option: B
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Question 26
A
increasing the import duties
B
buying or selling treasury bills by the Central Bank
C
printing of more currency note
D
raising the level of interest
Explanation

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Correct option: A
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Question 27
A
gross national income (GNI)
B
net national income (NNI)
C
gross domestic product (GDP)
D
per capital income (PCI)
Explanation

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Correct option: D
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Question 28
A
produced or sold by oligopoly
B
sold in perfect market
C
produce or sold by monopsony
D
produced or sold by monopoly
Explanation

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Correct option: D
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Question 29
A
an income elastic good
B
a normal good
C
an inferior good
D
an abnormal good
Explanation

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Correct option: C
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Question 30
A
large number of sellers in the markets
B
single seller in the market
C
few sellers in the markets
D
single buyer in the market
Explanation

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Correct option: C

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