Which of the following has a derived demand?
Labour
Butter
Television set
Breads
Motor cars
Correct answer is A
No explanation has been provided for this answer.
Economics is often described as a science because it
Adopts the use of laboratory experiments
Involves accurate predictions of human beings
Makes use of controlled experiment
Use scientific methods to explain observed phenomena
Deals with observation and field work
Correct answer is D
No explanation has been provided for this answer.
Bank loans
Issue of shares
Issue of debentures
Ploughing back profits
Sales of bonds
Correct answer is E
No explanation has been provided for this answer.
Socialist economy
Capitalist economy
Mixed economy
Political economy
Feudal economy
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a feature of a perfect market?
Large number of buyers and sellers
Homogeneity of products
Preferential treatment
Absence of transport cost
Perfect knowledge of market situation
Correct answer is C
No explanation has been provided for this answer.