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A firm that closes down will still incur
The production cost that varies inversely with output is the
In manufacturing, division of labour may be hindered by
Which of the following factors is not a cause of diminishing returns?
A minimum price legislation is also called
If the government imposes a minimum price on a commodity
A consumer of a single commodity is in equilibrium when
A country's budget allocation to various sectors of the economy is shown in the pie chart above...
Use it to answer this question
What is the ratio of expenditure on health to Agriculture if the yearly budget is 7200?
A country's budget allocation to various sectors of the economy is shown in the pie chart above...
Use it to answer this question.
If the budget of the country was $7,200, how much is allocated to Education?
In perfectly elastic supply, the supply curve
The supply curve of a locally-produced good may shift to the right if
If the quantity demanded of a commodity increases from 20 units to 30 units when there is an increase in price from $4.00 to $5.00, the elasticity of demand is
PN equals average revenue or marginal revenue cure of
The demand curve for goods of ostentation is usually
The increase in the demand for a commodity may lead to a decrease in the demand for another if both are
The mining sector of an economy contributes 60% to the Gross Domestic Product(GDP). If the GDP is $540, what is the contribution of the mining sector?
A major disadvantage of a capitalist economy is that it
A major characteristic of natural resources is they
There is unemployment of resources when production is
Scale of preference shows