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Economics Past Questions and Answers

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Economics Questions

Question 4271:

Which of the following is NOT a factor to be considered in siting an industry in a particular area?

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A Access to raw material
B Availability of recreational facilities
C Market
D Sources of power
E Transport facilities

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Question 4272:

Which of the following is a disadvantage of localization of industries?

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A Aiding cooperation among firms
B Creating structural unemployment
C Encouraging subsidiary industries
D Encouraging the growth of skilled labour
E Reducing cost of production

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Question 4273:

At the equilibrium price, ____________

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A Demand is greater than supply
B Demand equates supply
C Demand is less than supply
D Price is equal to demand only
E Price is equal to supply only

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Question 4274:

Which of the following is the correct order in the chain of distribution?

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A Consumer —> Distributor → Retailer → Producer
B Producer → Consumer → Retailer → Wholesaler
C Producer → Wholesaler → Retailer → Consumer
D Retailer → Consumer → Producer → Wholesaler
E Wholesaler → Retailer → Producer → Consume

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Question 4275:

The following are rewards for factors of production EXCEPT

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A Interest
B Profit
C Rent
D Subsidy
E Wages

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