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