Output is transformed into input
Machines replace human effort
Input is transformed into output
There is specialization and division of labour
Correct answer is C
No explanation has been provided for this answer.
In a regulated market, price is determined by
Consumers
Producers
Auction
Government
Correct answer is D
No explanation has been provided for this answer.
A decrease in supply without a corresponding change in demand will lead to
An increase in equilibrium price and a decrease in equilibrium quantity
A decrease in equilibrium price and an increase in equilibrium quantity
A decrease in equilibrium price and equilibrium quantity
An increase in equilibrium price and quantity
Correct answer is A
No explanation has been provided for this answer.
0.80
1.25
2.00
10.00
Correct answer is B
No explanation has been provided for this answer.
The short-run supply curve for medical doctors is more likely to be
Perfectly elastic
Perfectly inelastic
Fairly inelastic
Fairly elastic
Correct answer is B
No explanation has been provided for this answer.