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Economics Past Questions and Answers

Economics Questions

Question 1986:
A change from one industry to another by a worker is an example of
  • A Geographical mobility
  • B Horizonatal mobility
  • C Professional advancement
  • D Veritcal mobility
View Answer & Explanation
Question 1987:
Trade takes place because of
  • A Marginal utility
  • B Inefficiency in production
  • C Opportunity cost
  • D Comparative advantage
View Answer & Explanation
Question 1988:
The money paid per hour for work done is
  • A Salary
  • B Wage rate
  • C Cost
  • D Bonus
View Answer & Explanation
Question 1989:
The World Trade Organization is responsible for
  • A Stabilizing and harmonization oil prices
  • B Ensuring equal participation of countries in trade
  • C Modernising world economies
  • D Minimizing obstacles to international trade and investment
View Answer & Explanation
Question 1990:
The graph of the schedule above will depict
  • A A kinked demand curve
  • B A normal demand curve
  • C An abnormal demand curve
  • D A diminishing marginal utility curve
View Answer & Explanation