Economics 2010 | Study Mode

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Question 1
A
efficient allocation of resources
B
production of goods
C
operation of companies
D
generation of income
Explanation.

No official Explanation yet!


Correct Option:
A
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Question 2
A
efficient allocation of resources
B
the invisible hand
C
the regulatory nature of the market
D
consumer rationality
Explanation.

No official Explanation yet!


Correct Option:
C
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Question 3
A
always measured from the mode
B
the most representative of averages
C
always measured from the median
D
a measure of dispersion
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 4
A
is not affected by extreme values in a data
B
is a midpoint value in an array of data
C
is a balancing point in an observation
D
can be calculated from incomplete data
Explanation.

No official Explanation yet!


Correct Option:
C
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Question 5
A
range
B
mean
C
mode
D
median
Explanation.

No official Explanation yet!


Correct Option:
C
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Question 6
A
equally by consumers and producers
B
more by producers
C
more by consumers
D
more by retailers and producers
Explanation.

No official Explanation yet!


Correct Option:
B
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Question 7
A
double
B
increase
C
be constant
D
decrease
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 8
A
inelastic
B
perfectly elastic
C
elastic
D
unitarily elastic
Explanation.

No official Explanation yet!


Correct Option:
C
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Question 9
A
choice is not consistent
B
utility can be ranked
C
total utility is a function of price
D
satisfaction is measurable
Explanation.

No official Explanation yet!


Correct Option:
B
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Question 10
A
the slope of a normal demand curve is negative
B
an abnormal demand curve slopes upwards
C
the slope of a normal demand curve is positive
D
the consumption of inferior goods increases with income
Explanation.

No official Explanation yet!


Correct Option:
A

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