ECO292 List of Questions
Latex formatted questions may not properly renderQ1 A shift of the demand curve to the left indicates an increase in demand
Q2 What CANNOT cause an increase in demand?
Q3 A change in quantity demanded can be in two respects
Q4 When does increase in quantity demanded occurs as a movement downwards on a demand curve?
Q5 The Supply Curve is a graph illustrating how much of a given commodity sellers (firms) would sell at ______________.
Q6 Supply curves are derived from supply schedules
Q7 A higher price means greater profits and thus an incentive to increase the ______________.
Q8 What is Market supply?
Q9 Generally, the higher the number of sellers the grater the supply.
Q10 Expectations about the future price of a product can cause producers to increase or decrease current supply.
Q11 What happens if price of substitute production good rises?
Q12 A subsidy lowers cost of production, so _____________.
Q13 A business tax is treated as a cost, so ______________.
Q14 Which improvement means more efficient production and lower costs, so an increase in supply, or rightward shift in the curve results?
Q15 A decrease in resource prices wil cause an increase in supply or _____________ shift in the supply curve.
Q16 A rise in resource prices will cause a decrease in supply or _____________ shift in supply curve
Q17 Which law states that the higher the price of a commodity, the higher the quantity supplied, if all other things are unchanged?
Q18 Supply curves are derived from supply schedules by plotting price against the quantity supplied with price on the _____________.
Q19 What is the quantity of a commodity sellers wish to sell at each conceivable price?
Q20 Change in quantity demanded refers to_______________ a demand curve as a result of changes in the price of the commodity.
Q21 All the following factors EXCEPT ____________ causes decrease in demand for a commodity
Q22 Which of the following is NOT an example of substitute good?
Q23 the price of the substitute good and demand for the other good are ______________ related.
Q24 Define market demand.
Q25 What is marginal utility?
Q26 The law of demand states that other things being equal, as price increases, the quantity demanded of a commodity _____________.
Q27 Define denad curve.
Q28 A table showing how much of a given commodity a buyer would be willing to buy at different prices is called ___________.
Q29 Which concept remains the most fundamental in economic analysis and constitutes the backbone of a market economy?
Q30 What is referred to as a class of resources that are man-made for the purpose of creating a more efficient production process?
Q31 What encompasses the productive capacity of human physical and/or mental efforts, measured in terms of ability to work or produce goods and services?
Q32 Agricultural land, deposits of ferrous and non-ferrous minerals, water, fisheries, and other aquatic life, wilderness and its multiple products are examples of ____________.
Q33 Traditionally the economic notion of resources classify resources into three broad categories: ______________.
Q34 Resources can be classified from ___________ perspectives
Q35 Define resources.
Q36 What are economic agents?
Q37 When the total market value of the final goods and services produced is attributable to factors of production (labour, capital and natural resources) originating exclusively from a given country, it is termed as ______________.
Q38 In both the product and the factor markets, information about resource scarcity is transmitted through ____________.
Q39 Every choice we make has a cost associated with it. What is the term for this cost?
Q40 What is the most implication of scarcity?
Q41 At no price, the quantity supplied of a free good for instance exceeds the quantity demanded leading to a _____________.
Q42 What is the opposite of a scarce resource?
Q43 The link between the flow of matter-energy in the economic system and the natural environment is very much ignored.
Q44 A typical economy is composed of EXCEPT ___________.
Q45 The fundamental level, central to the neoclassical economics worldview with respect to the natural environment and its role in the economic process are the following four key issues EXCEPT ___________.
Q46 What could continually augment the scarcity of natural resources?
Q47 Since the earth is �??finite�?? there exists a theoretical _______________ for resource extraction and harvest and disposal of waste into the natural environment
Q48 Is NOT the maintenance of life support systems
Q49 Is NOT nonrenewable resources
Q50 The economy is assumed to depend on the environment for three of the following distinctive purposes EXCEPT ___________.
Q51 What is NOT the consequence that the humans are treated on pre-eminent in the natural environment?
Q52 The Neoclassical worldview of environmental economic relationship is ____________.
Q53 In the name of economic activity the environmental resources are transformed into ____________ goods
Q54 Which of the following economic functions is NOT discharged by the environment?
Q55 The environment is the supplier of all forms of resources like renewable and non-renewable.
Q56 In what form can the relationship between human economy and natural environment be explained?
Q57 The cultural superstructure does NOT include __________.
Q58 The components of Superstructure are EXCEPT ____________.
Q59 Which of the following is NOT a primary group structure?
Q60 The primary group can be a potent instrument in disseminating environmental education. Which of the following is NOT a function of the primary group?
Q61 There are NO limits to the rate to which materials can be recycled through the natural system
Q62 The ongoing reconfiguration of natural capital in the natural system means that the system also acts as a _____________ process
Q63 Humans can exist in isolation of the natural system because all economic (even non-economic) activities of man are not connected with the various other living and nonliving endowments of nature.
Q64 The by-products of an economic reconfiguration process is referred to as �??waste�?� .
Q65 One characteristics of the human economy is that it produces intended useful product and some _______________.
Q66 Which of the following resource is NOT regarded as natural capital?
Q67 The natural environment could be defined as physical, chemical, and biological surroundings that comprise the Earth�??s endowment of ___________ systems
Q68 The importance of land resource lies in the fact that it is the source of all our vital requirements EXCEPT ___________.
Q69 What is another name for Water Environment?
Q70 A major layer in the atmosphere is the ___________ layer which protects human, plants and other animals from hazardous radiation from the sun.
Q71 The atmosphere contains life-supporting __________ for plants and animals
Q72 The atmosphere reaches over __________ kilometre from the surface of the earth
Q73 What is another name for the Air Environment?
Q74 there are other two aspects that impact on the natural environment, these are: (a) Anthrosphere (b) _________ environment
Q75 The structure of the ______________ can be described in terms of its interdependent components, namely air, water, land living system and social structure
Q76 The ultimate limits to environmental resource availability are imposed by ___________.
Q77 Which of the following is not addressed in environmental economics?
Q78 As a sub discipline of economics, environmental economics originated early years of the so-called environmental ____________.
Q79 In order to account for the environmental impact of ___________ activities
Q80 Why did the classical and neo-classical economists underestimated the environmental issues of production and consumption?
