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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 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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