Oligopoly means:___________?

A. Business by rich people
B. Monopoly shared by few large sellers
C. Just one supplier of an item
D. None of the above

Normally a demand curve will have the shape:_________?

A. Horizontal
B. Vertical
C. Downward sloping
D. Upward sloping

Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?

A. Traditional
B. Feudal
C. Command
D. Mercantile

In development economics, who said,”Economic growth means more output”.

A. Maddison
B. Kindleberger
C. Todaro
D. Friedman