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Friday, 03 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 4946:
"Economics is a science which studies human behavior as relationship between ends and scar means, which have alternative uses". 'Ends' here refers to:
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  • A Wants
  • B Output
  • C Demand
  • D Resources
View Answer & Explanation
Question 4947:
Which of the following items does NOT belong to a country's current account in the balance of payments account?
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  • A Merchandise imports
  • B Merchandise exports
  • C Insurance services
  • D Foreign currencies
  • E Travel
View Answer & Explanation
Question 4948:
Demand in Economics is synonymous with:
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  • A Wants of the consumer at a time
  • B Wants back with ability to pay
  • C All goods demanded in the maker at a time
  • D Needs of a rational consumer
View Answer & Explanation
Question 4949:
A firm is said to be a public joint stock company when it
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  • A Operates as a government corporation
  • B Sells its shares to members of the public
  • C Is not legally recognized as a firm
  • D Is owned by the government
View Answer & Explanation
Question 4950:
The responsiveness of demand to a change in income is termed
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  • A Income elasticity of demand
  • B Money income index
  • C Cross elasticity of demand
  • D Price electivity of demand
View Answer & Explanation

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