43
All the following factors will cause a change in demand except
- A. the consumer's income
- B. the consumer's taste
- C. a change in population size
- D. a change in weather condition
- E. the price of commodity
44
Demand in Economics is synonymous with
- A. needs
- B. wants of the consumer
- C. all goods demanded in the market
- D. wants supported with ability to pay
- E. all consumers goods
45
all the following are specific examples of indirect tax except
- A. purchases tax
- B. import duty
- C. export duty
- D. excise duty
- E. poll tax
46
it is general belief that inflation in West Africa is caused by all the factors listed below except
- A. excessive bank lending
- B. budget deficit
- C. rising incomes
- D. shortage supply
- E. decrease in money supply
47
which of the following are resources for holding money instead of investing it? I Transaction motive II. Precautionary motive III. Speculative motive IV. Liquidity motive
- A. I and II only
- B. I and III only
- C. I, II and III only
- D. I, II and IV only
- E. II, III and IV only
48
Economics can be best defined as the study of
- A. how to spend the family income efficiently
- B. how to find minimum cost of production
- C. the interpretation of scarce resourceand date
- D. how scarce resource can be used efficiently
- E. why resource are scarce