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Economics Past Questions and Answers

Economics Questions

Question 141:
The money paid per hour for work done is_________
  • A Cost
  • B Salary
  • C Bonus
  • D Wage rate
View Answer & Explanation
Question 142:
From the graph above the consumer will attain equilibrium at point_______________
  • A J
  • B K
  • C M
  • D L
View Answer & Explanation
Question 143:
By utility we mean____________
  • A Beneficial
  • B Power of satisfying a want
  • C Advantageous
  • D Consumable
View Answer & Explanation
Question 144:
Concentrating industries in one place is advantageous because there are gains in terms of_____________
  • A Cost economies
  • B Economies of scale
  • C Internal economies
  • D External economies
View Answer & Explanation
Question 145:
The effects on the demand for product A caused by a change in the price of product B is Called____________
  • A Joint demand
  • B Cross-elasticity of demand
  • C Elasticity of supply
  • D Competitive demand
View Answer & Explanation