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