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Economics Past Questions and Answers

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Economics Questions

Question 4486:

Which of the following is not charactenstic of a perfect competition?

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A Many sellers and buyers are in the market
B There is perfect knowledge of the market situation
C Supply and demand are equal
D There is no discnmination

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Question 4487:

The pnce of a commodity is determined by the ____________

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A Supplier
B Consumer
C Quantity of goods demanded
D Interaction of demand and supply

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Question 4488:

In which of the following economic systems is the consumer referred to as ,The King"?

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A Planned economy
B Mixed economy
C Traditional economy
D Free Market economy

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Question 4489:

As interest rate increases ____________

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A Investment declines
B It is not certain what happens to investment
C Investment increases
D Investment remains constant

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Question 4490:

The three major agents of an economic system are the ____________

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A Consumer, workers and producers
B Markets, telecommunication and banks
C Schools, hospital and universities
D Individuals, firm and government

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