Economics (UI) | Study Mode

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Question 21
A
50 
B
55 
C
75.5 
D
47.5 
E
55.5 
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 22
A
government authorities 
B
price system 
C
banking system 
D
central planning bureau 
E
revenue allocation formula 
Explanation.

No official Explanation yet!


Correct Option:
B
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Question 23
A
demand and supply curve intersects in more than one point 
B
the excess in the market can be conveniently stored 
C
excess demand is positive 
D
demand and supply curves intersect 
E
excess demand is negative 
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 24
A
the reduction in the power of sellers 
B
the enthronement of consumer sovereignty 
C
the dismantling of barriers to trade 
D
the perfectly elastic price for every transaction 
E
the intersection of demand and supply curves 
Explanation.

No official Explanation yet!


Correct Option:
B
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Question 25
A
market merger 
B
market segmentation 
C
demand elasticities 
D
product differentiation 
E
none of the above 
Explanation.

No official Explanation yet!


Correct Option:
A
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Question 26
A
limit consumer demand 
B
enable producers make profits 
C
allocate scarce resources among competing ends 
D
ensure consumer sovereignty 
E
achieve excess capacity 
Explanation.

No official Explanation yet!


Correct Option:
C
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Question 27
A
higher than the last price 
B
lower than the last price 
C
higher than the equilibrium price 
D
lower than the equilibrium price 
E
higher than the ceiling price 
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 28
A
their factor prices are equal 
B
their marginal products are equal to the factor prices 
C
their marginal products are each equal to zero 
D
the ratios of their marginal product equals the ratio of their prices 
E
none of the above 
Explanation.

No official Explanation yet!


Correct Option:
B
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Question 29
A
how much of resources a society uses to produce a particular commodity 
B
the rate of inflation 
C
the rate of unemployment in an economy 
D
the various combinations of the commodities that can be produced 
E
all of the above 
Explanation.

No official Explanation yet!


Correct Option:
D
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Question 30
A
use of inferior inputs 
B
inefficiency 
C
improvement in production techniques and practices 
D
changes in the product mix 
E
changes in consumer taste 
Explanation.

No official Explanation yet!


Correct Option:
C

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