Economics as a social science subject is the scientific study of the ownership, use, and exchange of scarce resources – often shortened to the science of scarcity.
Learning economic theory is one thing but developing the tools to make decisions is another thing. Economics teaches the basics and also the concrete tools for analysis. To develop and understand these theories, you can attempt this sample of questions. This quiz comprises 15 questions, with each question based on a topic found in the Advance level Economics syllabus. Some of these topics include; opportunity cost, population density, demand. This quiz will help prepare you better for the CGCE examination.Remember the key to success is hard work and consistency. This tool will allow you to get surprisingly great results in your studies. And one of the ways is gaining more materials. You can visit our website to gain more materials
Which of the following production possibilities curves indicates increasing opportunity costs?
Which of the following is the main reason for carrying out economic activity in a
A necessary condition for a mixed economy is that there are:
is based on the item below:
i) Mineral deposits
iv) Grinding mills
form the above, land consists of:
For division of labour to be successfully implemented by a travel agency, the various related services need to be:
This question is based on the following items
i. Shares are quoted in the stock exchange market
ii. Has limited liabilities
iii. Publishes annual balance sheet
iv. Possesses a trading certificate.
The above characteristics apply to which of the following business units?
This question is based on figure 1 below.
Which of the following movement illustrates forward vertical integration?
Given the total number of people and total output for an area over time, which of the following can such data help you to determine?
Positive checks according to the Malthusian population doctrine suggest that
population can be controlled by:
Which of the following explains why a fall in price form 150 FCFA to 50 FCFA raises quantity demanded from 10 units to 20 units?
The demand for a good is said to be fairly inelastic if the value of its price
Why is the Sa portion of the above curve negatively-sloped?
High price makes supply very profitable
A situation in which price is reduced and total revenue instead falls, suggests that demand for the good is:
Given that at the price of 8 FCFA, quantity demanded is 50 units and price elasticity of demand is 0.8. if price increases to 12 FCFA, what will be the change in
When the supply of an agricultural product is inelastic while its demand is fairly elastic, it will lead to: