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4166

A point X inside the production possibility curve indicates that

  • A. resources are fully utilized
  • B. the country is poor
  • C. some resources are idle
  • D. resources are not available
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4167

The major employer of labour in developing countries is the

  • A. tertiary sector
  • B. secondary sector
  • C. primary sector
  • D. industrial sector
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4168

The wages of a group of workers in dollars is stated below;

40, 30, 70, 20, 60, 10, 10, 80, 30, and 10.

What is the mean wage

  • A. $35
  • B. $36
  • C. $37
  • D. $38
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4169

The desire for profits is a major feature of 

  • A. traditional economy
  • B. mixed economy
  • C. market economy
  • D. command economy
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4170

If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be

  • A. parallel to the quantity axis
  • B. parallel to the price axis
  • C. negatively sloped
  • D. positively sloped
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