Correct Answer: D. A change in the quantity supplied

Explanation

A change in the price of a good or service, holding all else constant, will result in a movement along the supply curve. A change in the cost of an input will impact the cost of producing a good and will result in a shift in supply; supply will shift outward if costs decrease and will shift inward if they increase

Correct Answer: A. bank rate

Explanation

A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans. Interest rates charged by money lenders and financial institutions are influenced by the official bank rates. Banks are prohibited from setting their own interest rates.

Correct Answer: A. Economies of scale

Explanation

Economies of scale which is also known as scale of production set the size of plant, the number of plants installed and the technique of product. In the short-run, there is no time for the plant to expand while in the long-run, there is enough time for the firm to expand its size of plant which makes the AC α MC shape flatter.

Correct Answer: D. fixed cost

Correct Answer: A. deficit budget

Correct Answer: D. unlimited laibility

Correct Answer: A. localization of industries

Explanation

Localisation means the concentration of a certain industry in a particular area, locality or region. Localisation is related to the territorial division of labour, that is, specialisation by areas or regions. A certain town or region tends to specialise in the production of a particular commodity.

Explanation

(a) i. Distribution of goods is a process of making goods available to the final consumer.

ii. Goods are transferred from the producer or manufacturer to the wholesaler who in turn transfers the goods to the retailer and from the retailer to the final consumer OR Producers/manufacturers - > Wholesalers ->Retailers ->Consumers.

(b) A consumer cooperative society is an association formed by a group of consumers with similar interests for their mutual benefit. They pool their resources to buy goods in large quantities from the distributors or manufacturers or from government agencies. They sell mainly to their members. Members participate in the running of the society and are rewarded according to patronage and interest is paid on capital contributed.

(c) i. They make products available wherever their members are.

ii. They make essential commodities supplied by government agencies available to their members at affordable prices.

iii. They help in breaking the bulk and sell to members at retail quantities and prices.

iv. They protect their members from exploitation by middlemen who may want to sell at exorbitant prices.

v. They act as agents to government agencies to market and distribute their products.

vi. They assist members by selling products to them on credit.

vii. They educate and train their members.

Correct Answer: C. the supply of money may be reduced

Correct Answer: C. entrepreneur

Explanation

An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit.