Advanced level 2026 South West mock Economics 1
Advanced level 2026 South West mock Economics 1
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Economic goods and free goods are similar in terms of:
A. Cost of production
B. Opportunity cost
C. Scarcity
D. Utility
This question is based on the diagram below which shows an economy’s production possibility curve.
Figure 1
(Diagram showing a Production Possibility Curve with Cereal on the Y-axis and Cotton on the X-axis, with points A, B, C, and D marked along the curve.)
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If this economy decides to produce at point A, then:
A. The economy has not achieved full employment
B. The economy is producing both food and clothing
C. The maximum output of cereal is being produced.
D. The economy can only survive by exporting cotton
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Which of the following economic systems relies entirely on price mechanism in the allocation of resources?
A. Capitalist economy
B. Socialist economy
C. Mixed economy
D. Traditional economy
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Which of the following will likely trigger a move from a command economy to a market economy?
A. Inequitable redistribution of income
B. Inflation resulting from the removal of price control
C. Low quality goods and services
D. Industrial unrest with frequent conflicts between workers and employers
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When a firm increases the amount of capital per worker the situation is described as:
A. Capital deepening
B. Capital widening
C. Capital accumulation
D. Capital consumption
This question is based on the information on the table below:
| Output(kg) | 1 | 2 | 3 | 4 |
| MC(FCFA) | 10,000 | 15,000 | 35,000 | 90,000 |
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What is the average cost when the $3^{rd}$ output is produced?
A. 35,000 FCFA
B. 11,666.6 FCFA
C. 20,000 FCFA
D. 60,000 FCFA
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Which of the following is a likely reason for a possible integration between MTN Cameroon and Orange Cameroon?
A. Diversification
B. To secure the source of market
C. Joint research
D. To secure the source of raw material
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The return per share to an investor expressed as a percentage of the share’s price defines?
A. Yield
B. Dividend
C. Premium
D. Interest
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A country with a large population may NOT necessarily be over populated once there is:
A. Low level of industrialization
B. Closure of trade borders
C. Rapid advancement in technology
D. Less desire for education and training
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Country X recorded a birth rate of 10 per thousand and a death rate of 4 per thousand. The natural growth rate in percentage will be:
A. 6 percent
B. 6 per thousand
C. 0.6 percent
D. 4 percent
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A densely populated country is said to be below its optimum population size when:
A. There is widespread unemployment of labour
B. Available natural resources are underutilized
C. The level of technology is low
D. The economy is fully industrialized
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A firm which aims at sales revenue maximization should produce at the output level where:
A. AR = MC
B. MR = MC
C. AR = AC
D. MR = Zero
