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Economics Past Questions and Answers

Economics Questions

Question 5006:
The existence of one electricity provider in a country is an example of:
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  • A Perfect competition
  • B Oligopoly
  • C Monopoly
  • D Retail competition
View Answer & Explanation
Question 5007:
Which of the following best describes recession?
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  • A Permanent market equilibrium
  • B Continuous inflation increase
  • C Persistent industrial expansion
  • D Temporary economic downturn
View Answer & Explanation
Question 5008:
GDP per capita is obtained by:
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  • A Multiplying GDP by exports
  • B Adding imports to GDP
  • C Dividing GDP by population
  • D Subtracting taxes from GDP
View Answer & Explanation
Question 5009:
Depression may lead to:
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  • A Excessive industrial profits
  • B Rapid wage increases
  • C Continuous economic expansion
  • D Widespread poverty
View Answer & Explanation
Question 5010:
Which activity contributes to GDP?
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  • A Transfer pension payments
  • B Personal family gifts
  • C Sale of old furniture
  • D Factory production activities
View Answer & Explanation

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