IMSU Economics 2018/2019 Past Questions

Practice each question, then open it to see the full details.

When population is classified according to profession, it is called,

A.Geographical distribution of population
B.age distribution of population
C.distribution
D.occupational distribution of population
E.Population.

Factors considered in setting up a retail business include the following

A.Capital requirements
B.sources of supplies
C.types of goods
D.sources of income
E.all of the above

Another name for real cost is

A.Money
B.opportunity cost
C.son cost
D.actual cost
E.main cost

The study of inflation is part of

A.Macroeconomics
B.microeconomics
C.descriptive economics
D.normative economics
E.Formative economics

A reduction in price of goods in a wholesaler's catalogue is called

A.an interest
B.a dividend
C.a commission
D.a discount
E.a debit

Which of the following is a characteristic of monopoly

A.many sellers
B.homogenous commodity
C.single seller
D.perfect knowledge
E.None of the above.

The following are advantages of localization of industries except

A.organized market
B.supply of skill labour
C.public corporation
D.partnership
E.privatization.