43
An aging population refers to the preponderance of?
- A. middle-aged people in the population
- B. young people in the population
- C. women in the the population
- D. old men in the population
- E. old people in the population
44
Which Of the following is NOT an obstacle to economic development?
- A. Low level of investment
- B. lack of modern technology
- C. High rate of population growth
- D. Low productivity
- E. Dedicated leadership
45
The advantages that accrue to a firm as the size of the firm increases are known as
- A. external diseconomies
- B. internal returns to scale
- C. internal economies
- D. internal diseconomies
- E. constant returns to scale
46
In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?
- A. Length and cost of training
- B. Demand and supply
- C. attractiveness of the job
- D. Influence of the trade union
- E. Government intervention
47
The production within the domestic territory of a country is called the
- A. net national product
- B. gross domestic product
- C. net income
- D. disposable income
- E. gross national product
48
Division of labour is limited by?
- A. the size of market
- B. the productivity of capital
- C. cost of production
- D. the factors of production
- E. government policy
49
Demand for a commodity by a consumer is the quantity of that commodity that the consumer
- A. demands at a given price at a point in time
- B. demand at a given price
- C. actually digests
- D. produces, given its price
- E. can store away during bnad weather
50
The main economic objective behind the production of goods and services in any economy is to?
- A. maximize profits
- B. satisfy human wants
- C. become self reliant
- D. create job opportunities
- E. make people wealthy