What is the effect of pursuit of higher education on the size of labour force?
It makes labour force to be defective
It brings higher wage rate
It increases the size of labour force
It reduces the size of labour force
Correct answer is D
No explanation has been provided for this answer.
A market in which a single price obtains for a product is known as
A product market
A capital price market
An imperfect market
A perfect market
Correct answer is D
No explanation has been provided for this answer.
Which of the following is a condition necessary for a perfect market?
The goods are heterogenous
There is preferential treatment
There is a large number of buyers and sellers
Buyers and sellers are easily influenced
Correct answer is C
No explanation has been provided for this answer.
One advantage of a sole proprietor is that
It can be managed without conflicts
The sole proprietor raises money from the public
It makes an increase in the volume of business possible
There is no limit to the number pf people who may bring in capital
Correct answer is A
No explanation has been provided for this answer.
Which of these is true of a perfect competitor?
P = AR < MR
P > AR = MR
P = MR < AR
P = AR = MR
Correct answer is D
No explanation has been provided for this answer.