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