Search SchoolNGR

Economics Past Questions and Answers

Classroom

Economics Questions

Question 2276:

(a) Define a market.<br/>(b) Explain four characteristics of a perfect market.

SchoolNGR Classroom

View Answer & Explanation

Question 2277:

Describe the factors that can affect the size of a country's population.

SchoolNGR Classroom

View Answer & Explanation

Question 2278:

Economics is a social science because it

SchoolNGR Classroom

A Deals with an aspect of hman behaviour
B Provides people with commodity they want
C Deals with limited resources which have alternative uses
D Deals with the production of goods for present and future consumption
E Is related to how choice is made

View Answer & Explanation

Question 2279:

Scarcity in Economics generally refers to

SchoolNGR Classroom

A A period of production
B Hoarding of goods
C Monopolization of existing supply of resources
D Period of famine
E Resources being limited

View Answer & Explanation

Question 2280:

Opportunity cost is define as the

SchoolNGR Classroom

A Money cost
B Cost of production
C Real cost
D Variable cost
E Fixed cost

View Answer & Explanation

Stay Updated

Follow us on:

Subjects