Economics is a branch of social science that studies how individuals, households, and firms make decisions relating to distribution of very limited resources to productive resources so as to derive maximum gain or satisfaction.
This quiz is designed to help students face the challenge of attempting questions during the examination session. The questions present in this session of the quiz are questions carefully selected from the Advance level Economic syllabus and the questions are based on past CGCE Advanced level Economics.
There are 15 questions present in this quiz and each student is advised to attempt all the questions. Each question has four options and just one is correct among these four options.
So, when answering these questions, make sure to read in between the lines to understand what the question is asking of you. We also have another set of 15 questions that awaits you after attempting these present questions. Remember, read in between the lines of the questions. To gain more of this materials, visit our website to boost your knowledge
If a nationalized industry adopts the marginal costs pricing policy for its services when its average cost is declining, it will likely
A firm which aims at growth maximization should produce at the output level where
This question is based on figure below, illustrating perfect price discrimination situation.
The triangle PAB describes
When consumers buy in the cheaper markets and sell in more expensive markets, this is known as
Firms in oligopoly are interdependent because
The following statistics relate to an automobile firm that has sold two cars. (Figures are in millions FCFA).
Cost price per car 10
Selling price per car 15
Total sales revenue 30
Cost of capital employed 12
Amount of profit per car 5
If the firm declares a rate of profit of 50% which method of measuring profit has been used?
Normal profit is
Given that the market rate of interest is 15%. What is the market price of a bond that pays 18,000 FCFA interest?
The market value of all goods and services produced by a country’s resources regardless of where the resources are located is
Where are adjustments made for financial services in the output method of measuring national income?
This question is based on the table below, which shows information about a country in 2008 and
The real GDP per capita in 2009 is
Which of the following will most likely be included in the measurement of Gross Domestic Product?
If the MPC in a particular economy is 0.5 and the government increases its expenditure by 1,000 million FCFA, by how much will national income increase?
If C=1,500 million FCFA +0,8Y (where C= consumption and Y= income) and intended
investment is 500 million FCFA, then the equilibrium level of national income is
Which of the following statements concerning the circular flow of income is true?