A) sociology B) economics C) geography D) political science
A) human behaviour as a relationship between ends and scarce means B) how to make profit C) money and banking D) the production of goods only
A) John Keynes B) Adam Smith C) Karl Marx D) David Ricardo
A) money B) demand C) utility D) scarcity
A) political economics B) business economics C) macro-economics D) micro-economics
A) goods are abundant B) wants are limited C) people are greedy D) resources are scarce
A) The total benefit gained B) The next best alternative forgone C) The amount of money spent D) cost of production
A) man's resources are few B) governments are corrupt C) money is scarce D) new wants keep arising
A) consumers are rich B) there too many goods C) there are not enough resources to satisfy wants D) prices are always high
A) spend carelessly B) ignore opportunity costs C) make rational decisions D) waste resources
A) increase corruption B) formulate good policies C) raise salaries D) exploit the poor
A) Helping efficient resource use B) increasing inequality C) encouraging waste D) discouraging production
A) make wise spending decisions B) avoid saving C) buy more than needed D) waste resources
A) increasing wages automatically B) producing advertisments C) determining market trends D) printing money
A) governments are weak B) population is high C) wants are unlimited and resources are limited D) prices are low
A) choice of techniques B) type of goods to produce C) cost of production D) location of production
A) who will consume the goods B) the method or technique of production C) the total output D) the time of production
A) determining the cost B) choosing who gets the goods and services C) deciding what to export D) hiring workers
A) Trade unions B) Choice C) Inflation D) Scarcity
A) selling goods at a market B) manufacturing only C) creating goods and services to satisfy human wants D) buying and storing
A) increase population B) create employment C) satisfy human wants D) reduce exports
A) distribution B) consumption C) exchange D) manufacturing
A) transport and trade B) mining, farming and fishing C) advertising D) banking and insurance
A) teaching B) banking C) manufacturing D) farming
A) mining B) service industries C) manufacturing D) construction
A) exchange B) distribution C) consumption D) production
A) Building your own house B) Washing your own clothes C) Tailor sewing for pay D) self-cooking
A) wage B) rent C) interest D) profit
A) Two B) Five C) Three D) Four
A) Rent B) profit C) interest D) wage
A) capital B) all natural resources used in production C) soil only D) buildings and machines
A) all human efforts used in production B) machines C) buildings D) land
A) interest B) rent C) wage D) profit
A) causes scarcity B) increases efficiency C) reduces unemployment D) decreases output
A) organizing and managing the factors of production B) earning rent C) providing only labour D) making government policies
A) interest B) rent C) wage D) profit
A) Rent B) Profit C) Interest D) Subsidy
A) combined in the production process B) purchased for the purpose of production C) brought into the factory D) profitable to the production process
A) primary productive B) items of production C) labour and material resources D) factors of production
A) human needs are easy to define B) human wants are limitless while the means to satisfy them are limited C) human wants are more than human wants D) material things are more than human wants
A) raw materials B) pipe-borne water C) electric power D) factory building
A) vegetation and it's products B) all natural resources C) land as the earth surface D) fishes in water bodies
A) Capital B) Land C) Labour D) Entrepreneur
A) industrialization B) factor procurement C) manufacturing D) production
A) it provides money which is essential for the growth of business B) it enables us to carry out tasks which cannot be done by human effort only C) most tasks can be done with bare hands D) people can work without capital
A) Capital B) Entrepreneur C) Land D) labour
A) Physical effort B) Mental effort C) Immobility of labour D) Skillful effort
A) are available B) are limited C) are available D) are scarce
A) inadequate resources B) corruption in high places C) the creation of artificial scarcity D) the absence of skilled labour
A) level of inflation B) What to produce C) Scarcity D) Price of commodity |