Economics cxc questions Flashcards
(29 cards)
1
Q
What is the meaning of economic agents?
A
2
Q
Examples of economic agents.
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3
Q
What is the law of demand?
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3
Q
What is the law of supply?
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4
Q
What are the Determinants of supply?
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5
Q
What are the determinants of demand?
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6
Q
What is capital?
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7
Q
What is entrepreneurial talent?
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8
Q
What are the main sectors of the economy?
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9
Q
What is variable cost?
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10
Q
What is total cost?
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11
Q
What is the average total cost?
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12
Q
What is marginal cost?
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13
Q
What is market structure?
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14
Q
What is market failure?
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15
Q
Types of market structures by sellers?
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16
Q
What is an externality?
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17
Q
What are public goods?
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18
Q
What is a financial institution?
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19
Q
List of financial institutions
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20
Q
What are financial instruments?
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21
Q
List of financial instruments
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22
Q
What CET?
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23
Q
What is WTO?
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24
What is absolute advantage?
25
What is comparitive advantage?
26
What is balance of trade?
27
What is balance of payment?
28
