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Economics Past Questions and Answers

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Economics Questions

Question 4221:

According to the theory of comparative advantages, countries are to specialize based on their

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A Absolute cost advantages
B Absolute cost disadvantages
C Comparative cost advantages
D Comparative cost disadvantages
E The availability of labour

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Question 4222:

Equilibrium prices is ____________

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A A price which equates demand with supply
B A price where there is excess demand
C Where consumers gain much
D Where producers gain much
E Where supply is more than demand

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Question 4223:

In economics, electricity, water supply, communication networks, road, etc are known as ____________

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A Capital structure
B Development induces
C Development projects
D Infrastructural facilities
E Project growth

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Question 4224:

A tax system which takes lesser percentage of a tax payers income as his income increase is known as ____________

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A Direct tax
B Indirect tax
C Progressive tax
D Proportional tax
E Regressive tax

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Question 4225:

Efficiency of labour implies ____________

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A Education and training
B Good working condition
C Healthier workforce
D Increased productivity worker accompanied by improvement in the quality of output
E The amount of incentives or remuneration given to workers

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