Economics 2009 | Study Mode

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Question 1
A
A bag only
B
A book and a bag
C
A shirit and a bag
D
A shirit only
Explanation

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Correct option: C
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Question 2
A
all producers make profit
B
full employment exists
C
consumer sovereignty exists
D
there is equality of economic agents
Explanation

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Correct option: C
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Question 3
A
a histogram
B
an ogive
C
a bar chart
D
a pie chart
Explanation

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Correct option: B
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Question 4
A
mixed economy
B
subsistence economy
C
market economy
D
command economy
Explanation

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Correct option: C
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Question 5
A
price of the product
B
price of other products
C
income of the consumer
D
taste of the consumer
Explanation

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Correct option: A
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Question 6
A
negatively sloped
B
parallel to the price axis
C
parallel to the quantity axis
D
positively sloped
Explanation

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Correct option: D
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Question 7
A
utility is measureable
B
utility is not measurable
C
total utility equals marginal utility
D
total utility is constant
Explanation

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Correct option: A
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Question 8
A
supply always exceeds demand
B
demand always exceeds supply
C
price is an incentive to consumers
D
price is an incentive to producers
Explanation

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Correct option: D
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Question 9
A
perfectly elastic
B
perfectly inelastic
C
fairly inelastic
D
fairly elastic
Explanation

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Correct option: B
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Question 10
A
0.8
B
1.25
C
2
D
10
Explanation

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Correct option: B

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