A) output B) wants C) choice D) resource
A) How to balance the needs of the economy with society and the environment 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) None
A) Alternate forgone B) Cost related to an optimum level of production C) Implicit cost D) The monetary equivalent of the utility of commodity
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) ranking of wants in an ascending order B) separating defective commodities from non-defective ones C) selection of most pressing wants out of a range of alternatives D) None of the above
A) How many wants are to be satisfied B) How much goods are to be produced C) The combination of resources to be used D) Which goods and services to be produced
A) efficiency of resource use B) scale of production C) how to produce D) for whom to produce
A) none B) how to produce C) efficient use if resources D) where to produce
A) none of the above B) choice C) wants D) scarcity
A) satisfying wants B) making optimum allocation of resources C) using scarce resources efficiently D) making rational
A) Capital B) The market C) Illiteracy D) Government policies
A) Alfred Marshal B) A.C Pigou C) Adam Smith D) Bill Gates
A) Physical sciences B) Social sciences C) None of the above D) National sciences
A) Wants B) Formulation of hypothesis C) Collection of data D) Observation
A) Financial prudence B) Expression of cost C) An insatiable desire of need by human being D) Limited supply of resources
A) Lionel C Robbins B) A.C Pigou C) Mr Bean D) John Stuart Mill
A) Production and distribution B) Wealth C) Mankind D) None
A) Technique of production B) Factors of production C) Technological advancement D) Production function
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) Scarcity B) Choice C) Needs D) Wants
A) Choice B) Resources C) Wants D) Opportunity cost
A) Collecting of data B) Observation C) Formulating laws D) Evaluation
A) None of the above B) A.C pigou C) Adam Smith D) H.J davenport
A) John Stuart Mill B) Lionel Robbins C) Alfred Marshal D) Lauren johnson
A) None B) Capital intensive C) Labour intensive D) Labour and capital intensive
A) Bars Charts B) Histogram C) Pictogram D) Pie chart
A) All of the above B) Component bar chart C) Simple bar chart D) Multiple bar chart
A) Multiple bar chart B) Component bar chart C) Simple bar chart D) None
A) Multiple bar chart B) Pie charts C) Bar chart D) Single bar chart
A) All of the above B) Charts C) Table D) Line graph
A) They must be labeled properly for better understanding B) They must have a title C) Graph must possess appropriate scales D) The must be numbered
A) Table B) Charts C) Graph D) None
A) Graph B) Pictogram C) Variable D) Table
A) 108 degree B) 100 degree C) 105 degree D) 90 degree
A) 80 degree B) 85 degree C) 75 degree D) 72 degree
A) Compass B) Both C) Protractor D) None
A) The return on investment B) Problem of market limitation C) The payback period D) Availability of capital
A) Stages of development B) Capital C) Entrepreneur ability D) Government policies
A) Public enterprises B) Joint ventureship C) None of the above D) Private enterprises |