Economics Past Questions and Answers

The factor of production that has the highest degree of mobility is?

Any payment to a factor of production in excess of what is necessary to keep that factor in its present employment is known as?

The opportunity cost of the use of productive resources which a producer owns and so does not pay constitutes?

The effect of changes in the condition of demand on a demand schedule with the price constant is?

Which of the following statement is TRUE of the effect of changes in demand and supply on price?