A) output B) resource C) choice D) wants
A) How to ensure continuous economic growth in the face of uncertainty B) The allocation of resources among competing wants because there are unlimited wants limited resources C) None D) How to balance the needs of the economy with society and the environment
A) Implicit cost B) Cost related to an optimum level of production C) The monetary equivalent of the utility of commodity D) Alternate forgone
A) consumers preference for luxury goods B) the household monthly income C) budget perparation without paying due regard to priority D) list of goods and services in order of priority
A) separating defective commodities from non-defective ones B) selection of most pressing wants out of a range of alternatives C) None of the above D) ranking of wants in an ascending order
A) How much goods are to be produced B) How many wants are to be satisfied C) The combination of resources to be used D) Which goods and services to be produced
A) how to produce B) for whom to produce C) scale of production D) efficiency of resource use
A) efficient use if resources B) where to produce C) how to produce D) none
A) choice B) wants C) none of the above D) scarcity
A) using scarce resources efficiently B) making rational C) making optimum allocation of resources D) satisfying wants
A) The market B) Capital C) Government policies D) Illiteracy
A) Alfred Marshal B) Adam Smith C) A.C Pigou D) Bill Gates
A) Physical sciences B) Social sciences C) None of the above D) National sciences
A) Formulation of hypothesis B) Wants C) Collection of data D) Observation
A) Limited supply of resources B) Financial prudence C) Expression of cost D) An insatiable desire of need by human being
A) Mr Bean B) John Stuart Mill C) A.C Pigou D) Lionel C Robbins
A) Mankind B) None C) Production and distribution D) Wealth
A) Production function B) Technique of production C) Factors of production D) Technological advancement
A) Choice and scarcity B) Demand and supply C) Wants and needs D) Labour and capital intensive
A) capital B) labour C) machine D) land
A) Wants B) Choice C) Needs D) Scarcity
A) Choice B) Resources C) Opportunity cost D) Wants
A) Formulating laws B) Collecting of data C) Evaluation D) Observation
A) A.C pigou B) Adam Smith C) H.J davenport D) None of the above
A) John Stuart Mill B) Alfred Marshal C) Lionel Robbins D) Lauren johnson
A) None B) Labour intensive C) Labour and capital intensive D) Capital intensive
A) Pie chart B) Pictogram C) Bars Charts D) Histogram
A) All of the above B) Component bar chart C) Multiple bar chart D) Simple bar chart
A) Multiple bar chart B) Simple bar chart C) None D) Component bar chart
A) Pie charts B) Bar chart C) Single bar chart D) Multiple bar chart
A) Line graph B) Charts C) Table D) All of the above
A) They must be labeled properly for better understanding B) Graph must possess appropriate scales C) The must be numbered D) They must have a title
A) Charts B) Graph C) None D) Table
A) Pictogram B) Variable C) Table D) Graph
A) 90 degree B) 105 degree C) 108 degree D) 100 degree
A) 75 degree B) 80 degree C) 72 degree D) 85 degree
A) None B) Both C) Compass D) Protractor
A) The payback period B) The return on investment C) Availability of capital D) Problem of market limitation
A) Entrepreneur ability B) Government policies C) Stages of development D) Capital
A) Public enterprises B) Joint ventureship C) Private enterprises D) None of the above |