Economics Past Questions and Answers

Mr. Tola needs a book and a calculator that cost #70 each. IF he buys the book instead of the calculator, the opportunity cost of his choice is

In the process of shipping, \(\mathrm{Mr} \mathrm{X}\) whose salary per month does not exceed \(\$ 200\), finds that the price of a commodity he used to purchase with a fixed amount of 4200 has now risen to 4230 . He therefore decides not to buy this commodity at all \(\mathrm{Mr} \mathrm{X}\) is thus affected by the

The unemployment associated with a recession is called

The significance of money to modem economic systems is that it

A good example of a free good is