A) a mere desire not backed by ability and willingness B) all the above C) a list of need D) a mere demand
A) backed by the ability to pay B) backed by want C) backed by desire D) None of the above
A) Total production B) Effective demand C) Supply
A) all things being equal, the higher the price, the lower the quantity demanded and vice versa B) the lower the price, the lower the quantity supplied C) the higher the price,the higher the demand
A) John Stuart B) Adam Smith C) Alferd Marshal D) A.C Pigou
A) Incorrect B) Partially C) False D) True
A) It adopts philosophical method B) It adopts socialist methods C) It adopts scientific methods D) It adopts humanity method
A) limited supply of resources B) abundance supply of goods C) unlimited supply of resources D) None of the above
A) four B) six C) five D) three
A) Want B) Opportunity cost C) Scale of preference D) Choice
A) six B) two C) four D) Three
A) abnormal demand B) effective demand C) ineffective demand D) normal demand
A) all of the above B) articles of necessity C) future expectation D) articles of ostentation
A) three B) two C) seven D) five
A) true B) false
A) Price of other services B) price of other goods C) price of the commodity
A) false B) partially C) true
A) price B) cost of the production C) taxation D) number of producers
A) Composite supply B) Competitive demand C) Joint demand
A) real goods B) substandard goods C) superior or giffen goods D) inferior or giffen goods |