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Economics Past Questions and Answers

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Economics Questions

Question 1906:

The downturn in the prices of shares on stock markets is a highlight of

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A Efficient allocation of resources
B The invisible hand
C The regulatory nature of the market
D Consumer rationality

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Question 1907:

The standard deviation of a set of data is

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A Always measured from the mode
B The most representative of averages
C Always measured from the median
D A measure of dispersion

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Question 1908:

The mean is the best measure of central tendency because it

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A Is not affected by extreme values in a data
B Is a midpoint value in an array of data
C Is a balancing point in an observation
D Can be calculated from incomplete data

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Question 1909:

The most popular sizes of dresses and shoes are determined by the

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A Range
B Mean
C Mode
D Median

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Question 1910:

If the demand for a good is more elastic than its supply, the tax burden is borne

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A Equally by consumers and producers
B More by producers
C More by consumers
D More by retailers and producers

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