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