In the demographic transition theory, stage II represents a stage where
Declining birth rates with low death rates lead to little or no population growth
High birth rate with low death rates lead to no population growth
There is population growth due to high birth rates and low death rates at that stages
There is a slow rate of population growth as a result of high birth rate accompanied by high but slightly fluctuating death rate
There is a very high growth as population as a result of high birth rates accompanied by high but slightly fluctuating death rates
Correct answer is D
No explanation has been provided for this answer.
Growth in a nation’s life expectancy
Increase in a nation’s population
Rate of increase in aggregate demand in a country
Rate of increase in a country’s full employment and real output
Rate of increase
Correct answer is C
No explanation has been provided for this answer.
Which of these is NOT a basic economic problem of society?
Efficiency of resource use
For whom to produce
How to produce
Scale of production
What to produce
Correct answer is D
Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. The problem of
- What to produce
- how to produce and for
- Whom to produce are the basic economic problems of a society.
- Efficiency of resources used
Scale of production is a secondary production function.
Total revenue can be obtained by multiplying
Price by quantity sold
Averages revenue by the demand
Marginal revenue by marginal cost
Average revenue plus marginal revenue
Average cost by variable cost
Correct answer is A
Total revenue can be obtained by multiplying the quantity of output sold by the market price of the product (P.Q)
For a monopolist, the demand curve is
Inelastic
Perfectly elastic
Perfectly inelastic
Elastic
Unitary elastic
Correct answer is C
No explanation has been provided for this answer.