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Economics Past Questions and Answers

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Economics Questions

Question 4376:

The concentration of firms in one area is referred to as of ____________ industries.

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A Location
B Localization
C Multiplication
D Proliferation
E Pluralization

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Question 4377:

Disguised unemployment is the same thing as ____________

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A Residual unemployment
B Seasonal unemployment
C Structural unemployment
D Under-employment
E Voluntary unemployment

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Question 4378:

The following are qualities of money EXCEPT

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A Acceptability
B Divisibility
C Homogeneity
D Portability
E Rationality

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Question 4379:

The concept of choice in Economics refers to ____________

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A A decision between one thing and another
B Ranking of wants in an ascending order
C Selection of most pressing wants out of a range of alternatives
D Ranking of wants on a table of preference
E Separating defective commodities from non-defective ones

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Question 4380:

The demand for salt is ____________

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A Elastic
B Inelastic
C Unitary elastic
D Both a and b

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