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