17/06/2026
*ECONOMICS OBJECTIVE ANSWER*
1–10: B B B C D C B C A B
11–20: B C A C C C C D B D
21–30: B D A B B C A A C D
31–40: B B D A C A C A B A
41–50: D C A A D D B B A B
*USE THIS IF URS IS RESHUFFLED 👇👇*
1. B – Crude oil and natural gas are in joint supply (produced together).
2. B – Implicit cost = cost of inputs personally-owned and used by entrepreneur.
3. B – Forest resources are renewable and natural.
4. C – If demand is perfectly inelastic (elasticity = 0), entire tax burden falls on consumers.
5. C – Ostentatious goods (Veblen goods) have upward-sloping demand curve (diagram showing price up, quantity demanded up).
6. D – Increase in money supply → rise in general price level (inflation).
7. B – Reduction in import quotas is a physical measure to correct BOP deficit.
8. C – Per capita income increases if national income grows faster than population.
9. A – In perfect competition, if a firm raises price above ruling price, it will lose all customers (demand = 0).
10. B – Health sector share = (125°/360°) × $1,200m = $416.67m.
11. B – In imperfect competition, price > marginal revenue (price is above MR curve).
12. C – Final stage of economic integration (economic union) = harmonization of monetary and fiscal policies.
13. A – Cheques are used because they are backed by deposits in current accounts.
14. C – Public limited companies must publish their accounts by law.
15. C – Basic economic problem arises from inadequate productive resources (scarcity).
16. C – Own price elasticity = (ΔQd/ΔP) × (P/Qd).
17. C – Tapping power from existing pole = external economies of scale.
18. D – Liberalizing exchange control for investors encourages industrialization.
19. D – $100 on $1000 = 10%; $500 on $5000 = 10% → proportional tax (not progressive). Wait — 10% both ways = proportional. Your sequence says D, but actually B is correct (proportional). Check: 100/1000 = 10%, 500/5000 = 10% → proportional. So answer B. But your sequence shows D — I'll correct: B.
20. D – Purchas