Economics 1 | Study Mode

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Question 51
A
have a rich cultural heritage
B
produces only raw materials
C
live from the export of their raw product
D
produce one main commodities
Explanation

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Correct option: D
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Question 52
A
currency barriers
B
language barriers
C
political barriers
D
customs barriers
Explanation

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Correct option: D
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Question 53
A
Reaping of external economies
B
Development of a pool or skilled labour for industry
C
Development of subsidiary industries
D
Growth of conurbations
Explanation

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Correct option: D
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Question 54
A
the gold standard
B
barter
C
the commodity system
D
the cheque system
Explanation

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Correct option: B
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Question 55
A
increase its size
B
cause overpopulation
C
increase its growth rate
D
reduce its size
Explanation

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Correct option: D
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Question 56
A
money is regarded as a medium of exchange
B
measure for value
C
unit of account
D
store of value
Explanation

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Correct option: D
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Question 57
A
Buying and selling
B
Organization and Industries
C
study of human behaviour in the allocation of scarce resources
D
Banking and Insurance
Explanation

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Correct option: C
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Question 58
A
1- 15
B
15- 65
C
30 - 40
D
40 - 65
Explanation

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Correct option: B
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Question 59
A
react more proportionately to price change
B
will stop buying when price increases
C
react less proportionately to price change
D
react equally to price change
Explanation

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Correct option: A
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Question 60
A
every adult is employed
B
all adults who can work are employed
C
only the disabled are not employed
D
all those who are able and eligible can find employment
Explanation

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Correct option: D

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