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