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Economics Past Questions and Answers

Economics Questions

Question 2801:
A major limiting factor of mass production is
  • A Efficient management
  • B Adequate labour supply
  • C Small size of the market
  • D Adequate supply of raw materials
View Answer & Explanation
Question 2802:
Division of labour leads to
  • A Improved craftsmanship
  • B The production of standardized goods
  • C Increase in the cost of goods
  • D Trade by barter
View Answer & Explanation
Question 2803:
which of the following is an advantage of localization of industry?
  • A Development of subsidiary firms
  • B Creation of paralell markets
  • C Developments of slums
  • D Attraction of foreign capitals
View Answer & Explanation
Question 2804:
The additional satisfaction derived from the consumption of one or more unit of a good is called
  • A Marginal products
  • B Marginal utility
  • C Marginal revenue
  • D Marginal cost
View Answer & Explanation
Question 2805:
when the total products is at its maximum marginal products is
  • A Increasing
  • B Positive
  • C Negative
  • D Zero
View Answer & Explanation