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Economics Past Questions and Answers

Economics Questions

Question 4141:
The willingness of an individual backed up with purchasing power at a given time is ____________
  • A Demand
  • B Desire
  • C Effective demand
  • D Utility
  • E Want
View Answer & Explanation
Question 4142:
Which of the following is NOT a factor that brings about changes in demand?
  • A A change in real income
  • B Government policy
  • C Increase in population
  • D The price of the good or service
  • E Taste and fashion
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Question 4143:
When an economy is having a balance of payment surplus the best alternative opened to it is to ____________
  • A Borrow from abroad
  • B Devalue its currency
  • C Increase its foreign reserve
  • D Promote imports into the country
  • E Sell out its foreign assets
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Question 4144:
Remuneration of labour based on number of hours worked is known as ____________
  • A Fees
  • B Commission
  • C Time-rates
  • D Salary
  • E Wages
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Question 4145:
Which of the following is NOT a feature of capitalism ?
  • A Detailed economics planning
  • B Free enterprise
  • C Competition
  • D Private ownership of property
  • E Entrepreneurs and the pursuit of profit
View Answer & Explanation