Economics Past Questions and Answers

An economic system where both the public and individuals own and control means of production is known as ____________ system

The law of variable proportion state that if the quantities of variable factor of production are used with fixed factor, after a certain point, ____________

Which of the following is NOT a reason for the absence of an industry in the rural areas?

In a free market economy, wages are determined by ____________

Of what importance is a wholesaler in the chain of distribution?