The price elasticity of coefficient indicates
How far business can reduce cost
The degree of competition
The extent to which curve shifts
Consumer responsiveness to price changes
None of the above
Correct answer is D
No explanation has been provided for this answer.
The money payment made to owners of land and labour are
Rent and wages
Interest and profits
Wages and interest
Dividends and salary
Tax
Correct answer is A
No explanation has been provided for this answer.
A major setback in any mixed economy is
That is combined both the capitalist and socialist systems
The freedom of choice in the production and consumption of goods and services
That government intervenes to secure full utilization of resources
That economy decisions are determined by market forces
That the absence of profit motive in the public sector may reduce incentives for hard work
Correct answer is E
No explanation has been provided for this answer.
Socialism
Welfarism
Communism
Capitalism
Traditionalism
Correct answer is D
No explanation has been provided for this answer.
The instrument used in many countries to restrict imports includes
High tarrifs
Price index
Excise duties
Bank rate
Subsidies
Correct answer is A
No explanation has been provided for this answer.