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 4
A
commission
B
profits
C
fixed interest
D
quasi-rent
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 6
A
bilateral trade.
B
bilateria trade
C
multilateral trade
D
internal trade
Explanation

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Correct option: A
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Question 7
A
capital account
B
invisible trade
C
merchandise trade
D
official reserves
Explanation

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Correct option: B
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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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