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