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Economics Past Questions and Answers

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Economics Questions

Question 311:

The relationship between the cost of living and standard of living is

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A A rise in cost of living gives a corresponding rise in standard of living
B A lower cost of living give a higher standard of living
C A lower cost of living give a lower standard of living
D None of the above

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Question 312:

The ordinalist approach of utility postulated that utility can be

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A Rank
B Measurable
C Rise
D Fall

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Question 313:

The frequent value that occurs most in a data is

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A Median
B Mean
C Mode
D Range

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Question 314:

A monopolist has the power to influence the prices of goods and services. Therefore, he is a

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A Price maker
B Price taker
C Price system
D Price competition

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Question 315:

Which of the following business units can issue shares?

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A Partnership
B Public limited liability company
C Sole proprietorship
D Central bank

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