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Economics Past Questions and Answers

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Economics Questions

Question 4346:

Plantation farming can best be defined as cultivation of ____________

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A Crops using hoes and cutlasses for farming
B Food crops for personal consumption
C Food for use by the family
D Large scale farms of cash crops
E Livestock for commercial purposes

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Question 4347:

Which of the following is NOT an advantage of localization of industry?

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A Availability of social amenities
B Development of subsidiary industries
C Highly organized markets
D Supply of skilled labour
E Traffic De-congestion

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Question 4348:

If the Income flow of a country exceeds the expenditure flow in international transactions, the balance of payment is ____________

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A Balanced
B Deficit
C Restricted
D Surplus

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Question 4349:

Which of the following is an advantage of free enterprise economy?

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A Allocates resources better
B Avoids extreme Inequality of income
C Full employment
D It is very competent In providing vital social services
E No need of employing a host of officials to allocate resources

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Question 4350:

A tax system in which the rich pays a higher percentage income as tax than the poor is known as ____________

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A Capital gains tax
B Progressive taxation
C Proportional taxation
D Regressive taxation
E Sales tax

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