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Economics Past Questions and Answers

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Economics Questions

Question 2951:

One reason for the low agricultural production in West African countries is that

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A Agriculture employs the highest percentage of the labour force
B Too much money is invested in agriculture
C Farmers lack the finance and technology required
D The farms are toolarge.

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Question 2952:

Mono-product economies are those that

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A Produce one main commodity
B Produce only raw materials
C Depend on the export of their raw materials
D Specialize in agricultural industries

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Question 2953:

An essential characteristics of market economy is

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A Government control
B Producer surplus
C Consumer surplus
D Consumer sovereignty

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Question 2954:

In a capitalist system goods are produced for those who

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A Want them most but cannot pay for them
B Can pay for them but do not want them
C Want them and can also pay for them
D Are dependent on the labour force

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Question 2955:

An economy which exhibits features of both private and State enterprises is known as

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A Capitalist economy
B Mixed economy
C Communist economy
D Socialist economy

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