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