All the under listed factors directly affects the supply of a commodity except
Price
Improved production method
Access to capital
Demand for the commodity
Level of income
Correct answer is E
No explanation has been provided for this answer.
Which of the following does not encourage the location of industries?
Nearness to the market
Availability of infrastructural facilities
Government influence in sitting industries
Political instability
Abundance of cheap labour
Correct answer is D
No explanation has been provided for this answer.
Which of the following is an important limiting factor in the application of division of labour?
Market size
Availability of an infrastructure
Wage rate
Raw materials
Availabily of land
Correct answer is A
No explanation has been provided for this answer.
As price increases, quantity demanded remains constant
Demand increases as price increases
As price falls, quantity demanded also falls
As price falls, quantity demanded increases
Demand and supply remains constant whether price fall or increase
Correct answer is D
No explanation has been provided for this answer.
The decision on what to produce is a problem in
All economics system
A mixed economic system only
A democratic socialist economy only
A free enterprise system only
A planned eceonomic system only
Correct answer is A
No explanation has been provided for this answer.