Search SchoolNGR

Economics Past Questions and Answers

Classroom

Economics Questions

Question 3101:

Small scale enterprises are important in a country because

SchoolNGR Classroom

A They usually produce goods for the dependants
B They provide after-sales servie only to the rich
C The price of their products are fixed
D They render personalized service to the consumers

View Answer & Explanation

Question 3102:

In the long run all factors of production are

SchoolNGR Classroom

A Expensive
B Variable
C Durable
D Fixed

View Answer & Explanation

Question 3103:

The transformation curve slopes indicates that

SchoolNGR Classroom

A Opportunity cost of producing one commodity for another
B Opportunity cost of producing two commodities at a time
C Sales of the plants to other investors
D Decrease in the cost of production

View Answer & Explanation

Question 3104:

Which of the following is regarded as fixed cost?

SchoolNGR Classroom

A Expenditure on raw materials
B Expenditure on fuel
C Expenditure on power
D Rent on land

View Answer & Explanation

Question 3105:

Revenue is the

SchoolNGR Classroom

A Cost of good multiplied by the quantity sold
B Price of goods multiplied by the quantity sold
C Quantity of goods plus purchase price
D Quantity supplied less quantity sold

View Answer & Explanation

Stay Updated

Follow us on:

Subjects