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Economics Past Questions and Answers

Economics Questions

Question 4381:
A major feature of capitalism is ____________
  • A Collective ownership of means of production
  • B Competition
  • C Equality or egalitarianism
  • D Redistribution of income
  • E Socialization and welfare
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Question 4382:
Production is best defined in economics as ____________
  • A Creation of utility yielding goods and services
  • B Distribution of goods and services
  • C Manufacturing of goods by small factories
  • D Provision of basic amenities
  • E Rendering of services only
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Question 4383:
Data presented in tables are usually arranged in ____________ and ____________
  • A Charts, tables
  • B , graphs, rows
  • C Pictograms, columns
  • D Rows, columns
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Question 4384:
The additional satisfaction derived from the consumption of one more unit of a good is called ____________
  • A Marginal cost
  • B Marginal product
  • C Marginal revenue
  • D Marginal utility
  • E Total Utility
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Question 4385:
When the demand for foreign exchange exceeds its supply, the value of the domestic currency
  • A Appreciates
  • B Depreciates
  • C Expands
  • D Increases
  • E Inflates
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