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Economics Past Questions

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4721

The diagram below represent

  • A. Business cycle
  • B. National income
  • C. Inflationary gap
  • D. Circular flow of income
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4722

What add funds to the circular flow?

  • A. Expenditure approach
  • B. withdrawal
  • C. leakages
  • D. injection
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4723

Economic problem arises as a result of

  • A. money cost
  • B. opportunity cost
  • C. choice
  • D. scarcity
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4724

The following are rewards for factors of production EXCEPT

  • A. profit
  • B. rent
  • C. interest
  • D. subsidy
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4725

When an increase in the price of a commodity lead to a fall In the demand for another, the demand for the two commodities are said to be

  • A. competitive
  • B. joint
  • C. composite
  • D. derived
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