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Tuesday, 28 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 486:
Infant industries are
  • A A baby food and a baby clothing factories
  • B Those which are introducing new products
  • C Cases of arrested development
  • D Industries temporarily protected by tariff barriers until mature enough to compete on world markets
  • E Industries that are allowed to remain permanent cases of adolescence
View Answer & Explanation
Question 487:
The quantity supplied of a commodity increases while
  • A Production incraases
  • B Demand increses
  • C Price of the commodity increases
  • D Population of the country increases
  • E More commodites are imported
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Question 488:
Production in Economics occurs when
  • A A commodity or service is sold
  • B Utility is created or added
  • C A commodity is manufactured
  • D Raw materials are produced or extracted from mines
  • E All of these
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Question 489:
Production in Economics occurs when
  • A A commodity or service is sold
  • B Utility is created or added
  • C A commodity is manufactured
  • D Raw materials are produced or extracted from mines
  • E All of these
View Answer & Explanation
Question 490:
From an economic point of view, an activity does not have a cost when
  • A Someone else pays for it
  • B The returns are greater than the cost
  • C The choice involves giving up nothing
  • D The government pays for it
  • E It is paid for from a gift
View Answer & Explanation