21. Which of the following is true of the monopolist
- A. his average revenue curve is horizontal
- B. He determines both price and output
- C. his demand and marginal revenue curve are the same
- D. he determines either price or output
22. Equity shares form the bulk of the capital of a?
- A. private firm
- B. public company
- C. statutory company
- D. limited partnership
23. If a state owned firm is sold through the stock market, the organisation becomes?
- A. partnership
- B. private company
- C. public limited company
- D. public corporation
24. The total number of people of working age who are willing and prepared to work at a given wage rate is the
- A. labour force
- B. supply of labour
- C. demand of labour
- D. occupational demand for labour
25. A civil engineer who accepts to teach elementary science in a primary school because he cannot get a paid engineering job is an example of?
- A. structural unemployment
- B. disguised unemployment
- C. residual unemployment
- D. frictional unemployment
26. Which of the following is an implication of a large population
- A. decrease in crime rate
- B. increase in food supply
- C. decrease in standard of living
- D. decrease in cost of living
27. An industry whose product loses considerable weight after processing must be sited close to?
- A. a ready market
- B. power station
- C. the source of finance
- D. the raw material
28. The system of agriculture which involves the cultivation of crops and rearing of animals for family consumption only is termed?
- A. peasant farming
- B. plantation agriculture
- C. commercial farming
- D. subsistent farming
29. Which of the following is a threat to the existence of middlemen
- A. consumers cooperative society
- B. producers cooperative society
- C. sales agents
- D. large scale producers
30. In an industrial area, the location of industries is particularly influenced by ?
- A. extent of the division of labour
- B. external economies
- C. internal economies
- D. nearness to financial institution
