Economics | Study Mode

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Question 1
A
sound economic decision 
B
opportunity cost 
C
practicable government policy 
D
scale of preference 
Explanation.
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Correct Option:
B
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Question 2
A
agreement made for consumers to buy all they need 
B
ngement made for producers sell all their goods 
C
agreement to sell commodities at low prices 
D
arrangement whereby the buyers and sellers are in contact 
Explanation.
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Correct Option:
D
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Question 3
A
pooling resources together against risks 
B
Mobilization of funds through premiums collected 
C
Encouragement of investment by security of capital 
D
collection of deposits from the public for investment 
Explanation.
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Correct Option:
D
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Question 5
A
resources are not available 
B
consumers want maximum satisfaction 
C
resources are limited in supply 
D
producers want maximum profit 
Explanation.
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Correct Option:
C
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Question 8
A
run-away inflation 
B
cost -push inflation 
C
demand -pull inflation 
D
imported inflation 
Explanation.
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Correct Option:
B
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Question 9
A
Acting as bankers' bank. 
B
Lending to the commercial banks as a last resort 
C
controlling inflation in the economy 
D
underwriting and issuing of shares 
Explanation.
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Correct Option:
D
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Question 10
A
greater than expected expected expenditure 
B
less than total expenditure 
C
equal to expected expenditure 
D
greater than total expenditure 
Explanation.
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Correct Option:
C
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