A Level Economics Quiz 2018 Part 1

An economic good is one:

Figures 1 to 4 below show shifts in the production possibilities curve for a given country.

Which of the figures (1, 2, 3 and 4) indicates that the economy is more efficient in the production of good Y?

The basis for determining the allocation of factors of production in a market economy is:

Income is more evenly distributed in:

An offer of new shares to existing shareholders as a means of raising funds internally is called:

The total amount of capital that a company decides to float for public subscription is:

A weight-loss industry would most likely locate close to:

The table shows different output levels produced by different workers

At what employment level will diminishing returns occur?

The average number of daughters that would be born to a female if she passed through her lifetime is described as the:

If a supermarket reduces the price of its soap from 300 FCFA to 200 FCFA and buyers decide to increase their demand from 2,000 cubes to 2,500 cubes, the price elasticity of demand would be:

The price of petroleum products is raised from 570 FCFA to 650 FCFA per litre with
the price elasticity of demand and price elasticity of supply being 1.5 and 3.5 respectively. How much additional tax per unit will a consumer pay per litre of petrol?

In a normal situation of supply, an increase in the supply of a commodity in the market will lead to:

If the cross-price elasticity of demand between goods A and B is zero, then these goods are:

The table refers to the costs of a firm at various levels of output

What is the average fixed cost of producing 40 tons of output?

Which of the following options will a government use to best control the consumption of harmful goods?