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Economics Past Questions and Answers

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Economics Questions

Question 4151:

A producer who can only influence the price of his product but canNOT determine the quantity to be sold is referred to as ____________

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A Duopoly
B Monopolist
C Monopsonist
D Oligopoly
E Perfect competitor

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Question 4152:

Government expenditure on universal basic education and subsidy on agriculture are aimed at ____________

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A Encouraging growth of the economy
B Projecting images of government
C Re-allocation of resources
D Redistribution of income and wealth
E Stabilization of the economy

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Question 4153:

Which of the following measure will NOT serves as a control during inflation period?

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A Increase in personal income tax
B Increase in bank rate and interest
C Increase in government capital expenditure
D Reduction in money supply
E Reduction in government recurrent expenditure

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Question 4154:

Tc/Q =

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A Marginal cost
B Average coat
C Total cost
D Equilibrium level

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Question 4155:

The following are type of business organization EXCEPT

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A Co-operative society
B Entrepreneurship
C Partnership
D Public corporation
E Sole proprietorship

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