BUK Economics 2017/2018 Past Questions

The downturn in the prices of shares on stock market is a highlight of

If the demand for a good is more elastic than its supply, the tax burden is borne

An excess demand for beans will result from

If the price of a commodity with elastic demand increases, the revenue accruing to the producer will

One of the assumptions of ordinary utility theory is that

The law of diminishing marginal utility explains why

If a consumer plans to spend 120k on four oranges but spent 80k, his consumer surplus is

If commodity X is a by product of commodity Y, this implies that both commodities are

In order to reduce hardship faced by consumers due to high prices, government can introduce

A decrease in aggregate spending in an economy will ultimately lead to