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Economics Past Questions and Answers

Economics Questions

Question 381:
Price mechanism determines the prices of commodities through
  • A Auctioning
  • B Market forces
  • C The sales of treasury bills
  • D Government legislation
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Question 382:
If the production of a large firm is higher than that of a small firm, it is experiencing.
  • A External economies of scale
  • B External diseconomies of scale
  • C Internal economies of scale
  • D Internal diseconomies of scale
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Question 383:
The choice of how to produce in a command economy is determined by
  • A Government
  • B Consumer
  • C Industrialists
  • D Labour unions
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Question 384:
In capitalist economies, questions about what to produce are ultimately answered by
  • A Income level of households
  • B Available technical skills in the economy
  • C Output decisions of firms
  • D Holding decision of households
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Question 385:
The best measure of dispersion to determine the tallest tree in a forest is
  • A Range
  • B Variance
  • C Standard deviation
  • D Mean deviation
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