ECO332 ====== 1. The Income elasticity of essential goods is usually ___ Zero Less than zero Greater than 1 Less than 1 2. Unlike accounting profit, economic profit takes into account both the imputed costs and __ costs Implicit Explicit …
For a business owner to obtain maximum profit, ___ major condition(s) must be fulfilled 1 2 3 4 JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO
Demand for a commodity that arises on its own out of a natural desire to consume or possess the commodity is called ___ Autonomous demand Individual demand Market demand Derived demand JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS …
Average cost can be defined as the ratio between total cost (TC) and ___ Marginal output Quantity produced Quantity sold Total price JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO
All of the given options are factors affecting market demand for a product except ___ Producers Income Consumers taste and preferences Price of related goods Price of the product JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET …
If company XYZ plans to launch a new product called ZZ Milk in the face of other competitors, the company’s decision makers may need to investigate and analyse the production related issues and the ___ Quantity of milk produced by …
Economic profit makes provision for depreciation, necessary minimum payment to shareholders and ___ Pension Damages Insurable risks Risks JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO
The areas of business issues to which economic theories can be directly applied is divided into two broad categories, and they are operational and Environment issues Internal issues Biological issues Physical issues JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK …
All the expenses incurred to carry out a business is referred to as ___ Business costs Accounting costs Economics costs Market costs JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO
Unlike accounting profit, economic profit takes into account both the imputed costs and __ costs Implicit Explicit Transportation Black market JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO
The Income elasticity of essential goods is usually ___ Zero Less than zero Greater than 1 Less than 1 JOIN OUR NOUN TELEGRAM GROUP HERE TO ASK QUESTIONS AND GET ANSWERS FOR OTHER COURSES ALSO