Search SchoolNGR

Economics Past Questions and Answers

Classroom

Economics Questions

Question 901:

A commodity is said to have a derived demand when the commodity

SchoolNGR Classroom

A And another have joint demand
B Is demanded because of what it can help to produce
C Is demanded for different purposes
D Has inelastic demand

View Answer & Explanation

Question 902:

If goods were free, a rational consumer would consume?

SchoolNGR Classroom

A An infinite amount of each good
B The amount where marginal utility became zero
C The same amount as when each good had a price
D The amount where marginal utility was the highest

View Answer & Explanation

Question 903:

Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?

SchoolNGR Classroom

A Both the price and the quantity fall
B The price rise and the quantity falls
C The price falls and the quantity rises
D Both the price and the quantity rise

View Answer & Explanation

Question 904:

One factor which influences the slope of a non-linear demand curve for a commodity is the?

SchoolNGR Classroom

A Price of the commodity
B Quantity of the commodity demanded
C Availability of substitutes
D Available of complements

View Answer & Explanation

Question 905:

One of the characteristics of an imperfect market is?

SchoolNGR Classroom

A A large number of buyers and sellers
B A lack of homogeneity of products
C An adequate awareness of market conditions by buyers and sellers
D The availability of substitutes

View Answer & Explanation

Stay Updated

Follow us on:

Subjects