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Economics Past Questions and Answers

Economics Questions

Question 411:
Disposable income is the same thing as
  • A Personal income minus personal savings
  • B Personal inome minus taxes
  • C National income minus depriciation
  • D Exports minus imports
  • E Savings plus investments
View Answer & Explanation
Question 412:
Marginal cost is
  • A Lowest cost of producing goods
  • B The cost of production of the most efficient firm in the industry
  • C Cost of production of the most inefficient firm in the industry
  • D The cost of production of the last or extra unit of goods produced by a firm
  • E The cost of production at which the minimum profit is obtained by a firm
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Question 413:
Which of the following is not a form of business organization
  • A A sole proprietorship
  • B Cartel
  • C Partnership
  • D Joint stock
  • E Cooperative society
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Question 414:
As consumption of beer increases, its marginal utility to a drinker will
  • A Increase
  • B Remain constant
  • C Fluctuate
  • D Decrease
  • E Change proportionally
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Question 415:
Which of the following sector of the economy is estimated to be the largest employer of labour in the country
  • A Construction
  • B Agriculture
  • C Distribution
  • D Mining and petroleum
  • E Transport and communication
View Answer & Explanation