A) a mere demand B) a list of need C) all the above D) a mere desire not backed by ability and willingness
A) backed by want B) backed by the ability to pay C) backed by desire D) None of the above
A) Effective demand B) Supply C) Total production
A) all things being equal, the higher the price, the lower the quantity demanded and vice versa B) the lower the price, the lower the quantity supplied C) the higher the price,the higher the demand
A) Adam Smith B) Alferd Marshal C) John Stuart D) A.C Pigou
A) Incorrect B) Partially C) False D) True
A) It adopts socialist methods B) It adopts humanity method C) It adopts scientific methods D) It adopts philosophical method
A) limited supply of resources B) None of the above C) unlimited supply of resources D) abundance supply of goods
A) three B) four C) six D) five
A) Choice B) Opportunity cost C) Want D) Scale of preference
A) four B) Three C) two D) six
A) abnormal demand B) normal demand C) ineffective demand D) effective demand
A) articles of ostentation B) articles of necessity C) all of the above D) future expectation
A) two B) three C) five D) seven
A) true B) Not certain C) Unknown D) false
A) price of the commodity B) Price of other services C) price of other goods
A) true B) false C) partially D) Incorrect
A) taxation B) cost of the production C) price D) number of producers
A) Composite supply B) Competitive demand C) Joint demand
A) inferior or giffen goods B) real goods C) substandard goods D) superior or giffen goods
A) Money cost B) Opportunity cost C) Production Possibility Boundary D) Production
A) Non- feasible area B) waste of resources C) Official use of resources D) feasible area
A) non-feasible area B) attainable C) good area D) feasible area
A) sufficient B) efficient C) efficiently used D) not efficiently used
A) median B) Mode C) mean D) arithmetic mean
A) Bill B) Commodity C) service D) Utility
A) Choice B) Scarcity C) Opportunity cost D) Want
A) Desire B) Need C) Choice D) Want
A) Money cost B) Monument C) Money matter D) Monetary
A) Unknown B) Partly C) True D) False |