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