Shift parallel inwards
Rotate outwards away from the origin
Rotate inwards towards the origin
Shift parallel outwards
Correct answer is C
No explanation has been provided for this answer.
General increase in the price of a single product
Period of economic recession
Period of hunger
Period of excessive money
Persistent rise in the general price level
Correct answer is E
No explanation has been provided for this answer.
Entrepreneur is associated more with
Capital management
Production of beverage
Profit making
Profit sharing
Risk bearing
Correct answer is E
No explanation has been provided for this answer.
Which of the following is a determinant of elasticity of supply?
Consumer’s income
Degree of necessities
Durability of the product
Number of uses of the commodity
Proportion of income spent on the product
Correct answer is C
No explanation has been provided for this answer.
When the value of a country’s export exceeds her imports, there will be a
Deficit current account
Excess visible imports only
Favourable balance of trade
Favourable capital account
Surplus current account
Correct answer is C
A favorable balance of trade occurs when a country's value of commodity exports exceeds the value of commodity imports.