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Economics Past Questions and Answers

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Economics Questions

Question 4431:

The act of combining factor inputs in order to obtain specific output is known as ____________

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A Factor procurement
B Manufacturing
C Investment
D Industrialisation
E Production

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Question 4432:

International trade is necessary because ____________

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A No country can live in economic isolation
B Different countries are differently endowed in natural and man-made resources
C Some countries have comparative cost advantage in the production of particular commodities over other countries
D The world demand for and supply of various categories of commodities is expanding
E Countries want to build up their foreign exchange reserve

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Question 4433:

A rightward shift in the production possibility frontier may be due to ____________

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A Use of inferior inputs
B Inefficiency
C Improvement in production techniques and practices
D Changes in the product mix
E Changes in consumers' tastes and preferences

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Question 4434:

Which of the following does NOT represent the behaviour of a monopolist?

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A Manipulating the market price of his goods
B Manipulating both the price and quantity of his goods at the same time
C Raising the price at one market, lowering it at another market
D Manipulating only quantity, price being a given factor
E Manipulating the quality of his goods

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Question 4435:

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls die to repayment after ____________

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A 6 months
B 9 months
C 2 years
D 5 years
E 10 or more years

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