Economics Past Questions and Answers

When of the following matters may account for changes in supply?<br/> <br/>I - technological advances in an industry<br/>II - changes in labour costs<br/>III - changes in source of supply<br/>IV - changes in levels of taxation

A supply curve slopes upwards from the left to the right indicating__________

Use the following information given to answer this question<br/>Total of all expenditure incurred during the year 80,000m<br/>Indirect taxes on goods and services 8,000m<br/>Capital consumption 6,000m<br/> <br/>National income is__________

<b>Use the following information given to answer this question<br/><br/>Total of all expenditure incurred during the year ₤ 80,000m<br/>Indirect taxes on goods and services ₤ 8,000m<br/>Capital consumption ₤ 6,000m</b><br/> <br/>Gross national expenditure at factor cost is_________

Effective demand for a commodity is desire for that commodity backed by_______