The fundamental economic problem in every society is

A point X inside the production possibility curve indicates that

The major employer of labour in developing countries is the

The wages of a group of workers in dollars is stated below;

40, 30, 70, 20, 60, 10, 10, 80, 30, and 10.

What is the mean wage

The desire for profits is a major feature of 

If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be

If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when price is $15.0

If less of a good is bought as one's income increases, such a good is

The demand for coffee and tea is 

What effect will an increase in the supply of fish have on the meat market

Which of the following factors is not a condition for a change in the supply of a commodity

Supply of agricultural products is likely to be elastic in the

Two commodities X and Y are in joint supply when 

Table 1

Units of quantity consumed	Total utility	Marginal utility
0	-	-
1	10	10
2	15	5
3	17	2
4	18	1
5	18	0

The table above illustrates the law of?

When the price of a good is above the equilibrium, there will be

What happens when a minimum price is imposed in a market? 

When an increase in inputs leads to a more than proportionate increase in output, there is

The short-run in production is the time period when

 

The table below shows the short-run cost of a firm. Use it to answer the question below

Quantity (kg)	Fixed cost ($)	Variable cost ($)	Total cost ($)	Marginal cost ($)	Average cost ($)
1	750	200	950	-	950
2	750	560	1310	360	655
3	750	900	P	Q	550

Calculate the value of Q

A cost of production that is positively related to output is the

In perfect competition, the average revenue curve of a firm is

Which of the following means of funding a business is very reliable and cheap?

Govermment in most cases influences the location of firms to 

Middlemen are made up of

Malthusian theory of population was proved wrong because

Human development can be improved if

The use of interest rates to control the money supply is a

Agricultural productivity may be increased if

Which of the following is a major advantage of establishing a tomato-processing factory in a country?

A country is described as industrialized if

The total value of goods and services produced within the borders of a country is

Which of the following factors will not underestimate the national income?

Which of the following items is not considered as a transfer payment?

Which of the following is true of the value of money? It

The motive for holding money to meet unforeseen events is termed

An increase in the prices of factor inputs may result in

Citizens are protected from the government's arbitrariness in taxation by the canon of

What happens when the central bank increases the bank rate?

Insurance Companies are similar to commercial banks in that they

In most developing countries, a large percentage of the labour force is engaged in

In most underdeveloped countries, development plans do not achieve their objective due to

In a period of unemployment and falling prices, the government should adopt a

Balance of trade involves the exchange of

Devaluation of currency may not correct a balance of payments deficit if the demand for export is

An improvement in a country's terms of trade means that the