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Economics Past Questions and Answers

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Economics Questions

Question 2351:

Which of the following is not a source of finance for a one-man business?

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A Money lenders
B Inheritance
C Loans from insurance companies
D Loans from banks
E Sales of shares

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Question 2352:

Land is a most significant factor in terms of contribution to the economy because

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A It enables us to build industries
B We build houses on it
C All our highways are constructed on it
D We get a lot of fishes from it
E Vital resources from it enrich the economy

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Question 2353:

Capital as a factor of production is important because

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A It enables us to carry out task which can not be done by human effort only
B Most tasks can be done with bare hands
C People can work without capital
D Without capital all the factors are useless
E It provides money which is essnetial for the growth of business

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Question 2354:

A firm's compulsory cost whether it is in production or not , is referred to as its

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A Prime cost
B Variable cost
C Marginal cost
D Fixed cost
E Average cost

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Question 2355:

A scale of preference is a list

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A Of consumer's wants arrange in order of importance
B Thaqt helps the individual to make rational choice
C That enables the consumer to make a wise decision about his choice
D That is necessary because human beigns are faced with competitive wants
E Os all satisfied wants arrange in order of magnitude

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