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Economics Past Questions

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4401

The sufficient condition for a firm to be in equilibrium is that the

  • A. firm must show that it is profitable
  • B. marginal cost must be equal to average revenue
  • C. marginal revenue curve is above the average revenue curve
  • D. marginal cost curve cuts the marginal revenue curve from below
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4402

Cooperative societies are formed mainly to

  • A. assist producers to maximize their profits
  • B. encourage thrift and credit among members
  • C. promote and maintain the welfare of members
  • D. break the monopolies of private companies
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4403

A disadvantage of a jont-stock company is

  • A. unlimited liability
  • B. limited liability
  • C. lack of continuity when a shareholder dies
  • D. limited control in management by shareholders
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4404

The middlemen is responsible for

  • A. providing research facilities
  • B. purchasing raw materials
  • C. designing the product
  • D. breaking the bulk
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4405

A major function of the retailer is to

  • A. grant credit to the wholesaler
  • B. break bulk and sell products in small units
  • C. reduce cost of distribution
  • D. generate demand for products through advertisement
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