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Friday, 03 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 4986:
A perfectly elastic supply curve is:
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  • A Upward bending curve
  • B Vertical straight line
  • C Horizontal straight line
  • D Downward sloping curve
View Answer & Explanation
Question 4987:
Which of the following is excluded from GDP?
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  • A Newly produced machinery
  • B Agricultural crop sales
  • C Transfer payment benefits
  • D Banking sector services
View Answer & Explanation
Question 4988:
Inferior goods usually have:
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  • A Infinite demand elasticity
  • B Positive price elasticity
  • C Perfect supply elasticity
  • D Negative income elasticity
View Answer & Explanation
Question 4989:
Which goods commonly have elastic demand?
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  • A Emergency hospital services
  • B Goods with substitutes
  • C Basic food materials
  • D Essential medical drugs
View Answer & Explanation
Question 4990:
The longer the time period, supply tends to become:
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  • A More elastic
  • B Less responsive always
  • C Perfectly inelastic
  • D Completely fixed
View Answer & Explanation

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