BUK Economics 2009/2010 Past Questions

The money payment made to owners of land and labour are

The price elasticity coefficient indicates

Every society strives to pursue all the following economic objectives except

Which of the following best describes capital as a factor of production

The system whereby goods are exchanged for goods is known as

The graph of the function X= a + bY is

Productivity per worker is best measures by

In determining costs, economists consider

The precautionary motive for holding money is to enable the holder to

50.In the long results, all factor inputs are

The benefit that results from concentrating similar firms in an area is referred to as

Per capital income in any West African country is measured by

A priority rating of aggregate individual wants is called

Profit can be calculated by

The marginal revenue curve of a monopolist is

When all factor inputs are doubled, the production possibility curve will

Income elasticity of demand is the measurement of the responsiveness of

The establishment of industries to rural areas will help reduce

Governments impose taxes mainly

In a perfect market, price and quantity to be bought are determined by the

When price elasticity of supply is equal to 0.4, supply is said to be

In the money market, money can only be borrowed for

Deflation can be controlled by increase in

Mortgage banks give loans to investors on long term basis to

The situation whereby a government spends more than it budgets for in a fiscal year is known as

In a socialist economy. factors of production are owned and controlled by the

One quality of money which makes it possible to be carried easily is its'

A form of tax in which the poor pay higher rate than the rich is known as

The reduction in the value of a country's currency is relation to the value of the currencies of other nations is known as

The creation of utility can be referred to as

Governmental revenue will increase if tax is imposed on a good whose demand is

Occupational distribution of population is mainly influenced by

Proportional tax refers to

Which of the following is not a item of capital expenditure?

The population which yields the highest level of income per head is known as

Price discrimination can only occur when there is

Commodity market can best be described as a market in which

Provision of services is classified under

In ordinary partnership, the risk are

Balance of trade is defined as the relation between