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Economics Past Questions and Answers

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Economics Questions

Question 4491:

Which of the following is not an advantage of tabular presentation of data?

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A Enables easy location of required figures
B Makes for easy comparison of figures
C Occupies more space than mathematical equation
D Shows whether the figures are increasing or decreasing

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Question 4492:

The problem of scarcity is reduced by ____________

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A Controlling consumptions of goods and services
B Producing everything needed by consumers
C Ensuring efficient allocation of resources
D Restricting consumer choices and tastes

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Question 4493:

Which of the following factors of production consists of man made goods

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A Land
B Labour
C Capital
D Entrepreneur

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Question 4494:

A major limiting factor of mass production is ____________

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A Efficient management
B Adequate labour supply
C Small size of the market
D Adequate supply of raw materials

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Question 4495:

Division of labour tends to ____________

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A Improved craftsmanship
B The production of standardized goods
C Increase in the cost of goods
D Trade of barter

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