Economics ss3

One characteristics of labour is that

• Labour is fixed in demand

• Labour fixed in supply

• Labour is mobile

• Labour is untrainable

A certain amount of money is needed for everyday expenditure like buying of goods,transportation and others.This is

• Transaction demand for money

• Precautionary demand for money

• Derived demand for money

• Speculative demand for money

One of the advantages of capitalism is that

• Consumers are exploited

• Private initiative is discouraged

• Efficient allocation of resources is assured

• Job security is assured

The public corporation can get finance through the following means except

• Loans and overdraft

• Personal. Savings

• Internally generated revenue

• Grant from international financial institutions

Pulic limited liability companies are democratic in nature because

• Government appointees are members of the board

• They are run by elected public officers

• Electoral principles are adopted in the day-to-day management

• Shareholders elect the board of directors

The demand for a factor input as a result of the demand for its output is known as

• Complementary demand

• Competitive demand

• Derived demand

• Market demand

If the demand of a commodity remains constant as price increases,the commodity is said to be

• Price inelastic

• Price elastic

• Unit price elastic

• Perfectly price inelastic

The fixing maximum prices by government is mainly on

• Inferior goods

• Luxury goods

• Imported capital goods

• Selected essential goods

A major source of finance to the railway corporation In west African countries is

• Sale os shares

• Government subvention

• Trade credit

• Surplus

The supply of mangoes is represented as p=0.3q,where p is the price # and q is the quantity.what is p when q is 50?

• #1.50

• #15.00

• #150.03

• #166.67