Meaning of Population In Economics - SS1 Economics Past Questions & Answers - page 1

1

What does population mean in economics?

A

The total number of individuals or entities in a geographic area

B

 The number of businesses in a particular industry

 

C

The number of products available in a market

D

The total number of consumers in a market

CORRECT OPTION: a
2

What are some characteristics that can define a population in economics?

A

Age, gender, and education

B

Type of product, price, and promotion

 

C

Type of business, size, and revenue

D

Type of industry, competition, and profit margins

CORRECT OPTION: a
3

Why is the concept of population important in economics?

A

 It helps to understand the demand and supply patterns of a market

B

It helps to identify the best marketing strategies for a product

C

It helps to determine the optimal production levels for a business

D

It helps to measure the effectiveness of government policies on the economy

 

CORRECT OPTION: a
4

Which of the following is NOT a characteristic that can define a population in economics?

A

Type of product

B

Age

C

Size of the business

D

Consumer preferences

 

CORRECT OPTION: c
5

What types of factors can influence the demand and supply patterns of a market?

A

Demographic and behavioral factors

B

Economic and political factors

 

C

Technological and environmental factors

D

All of the above

CORRECT OPTION: d
6

Define population in economics.

Population in economics refers to the total number of individuals or entities in a particular geographic area or market segment who share certain characteristics. 

7

Why is the concept of population important in economics?

In economics, the population is an important concept because it helps analysts and policymakers to understand the demand and supply patterns of a market, as well as the social and economic factors that influence these patterns.

 

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