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.
Discy Latest Questions
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.
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.
“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.
A firm’s average cost decreases in the long run because of A. decreasing marginal returns. B. increasing returns to scale. C. diminishing average returns. D. decreasing average fixed cost.
A market is in equilibrium when A. there is no government intervention. B. buyers and sellers are free to sell more goods. C. there is no free entry and exit. D. the demand is the same as the supply.