Do we ascribe the national shortage of gasoline to the law of demand and supply or is something else at play?
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Positive checks as envisaged by Thomas Malthus can be prevented if A. marriage is abolished. B. moral restraint is adopted. C. more hospitals are built. D. death rate is reduced.
If workers at the school canteen cannot sell during the holidays, this is an example of A. structural unemployment. B. residual unemployment. C. frictional unemployment. D. seasonal unemployment.
Wholesalers play an important role in the distribution of goods and services because they A. pass information on from retailers to consumers. B. are located very close to consumers. C. finance both producers and retailers. D. sell in small unit ...
In the event of bankruptcy, owners of joint-stock companies lose A. their private properties. B. only their dividends. C. both company and private assets. D. only the capital invested.
Public limited liability companies are democratic in nature because A. shareholders elect the board of directors. B. they are run by elected public officers. C. government appointees are members of the board. D. electoral principles are adopted in the day-to-day ...
In the long run, a firm must shut down if its average revenue is A. equal to the minimum average cost. B. greater than average cost. C. less than average variable cost. D. equal to the average cost.
“The larger a firm, the lower its cost of production”, this statement explains the A. concept of economics of scale. B. law of comparative cost advantage. C. law of diminishing returns. D. theory of division of labour.