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economics Practice tests Neco, Jamb, Wascce,SSce, Sat, Gre, Toefel, Gmat Online

Practice economics tests question Below by selecting the right option.


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The only factor of production that plays an active role in the production process is




capital
B


entrepreneur
C


labour
D

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The market structure in which there is interdependence of price-output policies is




an oligopoly
B


a pure competition
C


a monopolistic compe
D

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If the short-run cost curve of a firm is U-shaped, the marginal and average costs are equal where the




marginal cost is fal
B


average cost is mini
C


average fixed cost i
D

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