In a joint-stock company, the shareholders are the
Owners
Managers
Chief executives
Company advisers
Day-to-day decision makers
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a type of industry?
Export
Construction
Mining
Manufacturing
Transport
Correct answer is A
No explanation has been provided for this answer.
One of the advantages of localization of industry is that firms
Make abnormal profits
Are given tax holidays
Are unified under one management
Pay high wages
Can have a large pool of skilled labours
Correct answer is E
No explanation has been provided for this answer.
The shape of the average cost (AC) shows that as production increases
Total cost decreases
Average cost decreases and then increases
Average cost increases
Marginal cost steadily increase
Total cost remains constant
Correct answer is B
No explanation has been provided for this answer.
To the economist, efficiency of resource use means
The maximum use of resource to achieve minimum objectives
The reduction of cost for adequate output
Relating value of input to that of output
Using appropriate resources for desired wants
Maximizing output from a given amount of resource
Correct answer is E
No explanation has been provided for this answer.