Land is a most significant factor in terms of contribution to the economy because
It enables us to build industries
We build houses on it
All our highways are constructed on it
We get a lot of fishes from it
Vital resources from it enrich the economy
Correct answer is E
No explanation has been provided for this answer.
Which of the following is not a source of finance for a one-man business?
Money lenders
Inheritance
Loans from insurance companies
Loans from banks
Sales of shares
Correct answer is E
No explanation has been provided for this answer.
If price falls below the equilibrium
Demand will equal supply
Demand will be greater than supply
Supply will be greater than demand
Price will become indeterminate
Quantity supplied will be zero
Correct answer is B
No explanation has been provided for this answer.
The main objective of production by entrepreneur is to
Equate marginal revenue with marginal cost
Provide employment opportunities
Equate total revenue with total cost
Equate average revenue with average cost
Accumulate wealth for the nation
Correct answer is A
No explanation has been provided for this answer.
The market price of commodities
A market where a single price rules
A system of price allocation to the products of the same firm
A system of resource allocation through supply and demand interaction
A system which the market price is determined only through haggling
Correct answer is D
No explanation has been provided for this answer.