Economics Past Questions and Answers

The law of diminishing returns is applicable to the ________________

A firm incurred the following costs in production. Use the information in the table to answer the question below.

Output(bags of rice	0	10	20	30	40	50	60
Total Cost ($)	100	200	300	380	440	520	600

The fixed cost of production is ____________

The age distribution of a country's population is shown below. Use the information is answer the question below.

Age group (YEARS)	Population
0 - 1516 - 4041 - 60Over 60	30%45%15%10%

What is the percentage of the working population?

The age distribution of a country's population is shown below. Use the information is answer the question below.

Age group (YEARS)	Population
0 - 1516 - 4041 - 60Over 60	30%45%15%10%

What is the dependency ratio?

The supply of land for agricultural purpose can be increased through ____________