A) all the above B) a mere desire not backed by ability and willingness 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) Alferd Marshal C) Adam Smith D) A.C Pigou
A) Partially B) True C) Incorrect D) False
A) It adopts scientific methods B) It adopts humanity method C) It adopts philosophical method D) It adopts socialist methods
A) unlimited supply of resources B) limited supply of resources C) abundance supply of goods D) None of the above
A) five B) four C) six D) three
A) Opportunity cost B) Want C) Choice D) Scale of preference
A) four B) Three C) six D) two
A) effective demand B) abnormal demand C) ineffective demand D) normal demand
A) articles of ostentation B) future expectation C) articles of necessity D) all of the above
A) seven B) three C) five D) two
A) Not certain B) false C) true D) Unknown
A) Price of other services B) price of other goods C) price of the commodity
A) false B) Incorrect C) true D) partially
A) cost of the production B) taxation C) price D) number of producers
A) Composite supply B) Competitive demand C) Joint demand
A) substandard goods B) superior or giffen goods C) inferior or giffen goods D) real goods
A) Production B) Production Possibility Boundary C) Opportunity cost D) Money cost
A) Non- feasible area B) feasible area C) Official use of resources D) waste of resources
A) non-feasible area B) good area C) feasible area D) attainable
A) sufficient B) efficiently used C) efficient D) not efficiently used
A) Mode B) mean C) arithmetic mean D) median
A) service B) Bill C) Commodity D) Utility
A) Scarcity B) Want C) Opportunity cost D) Choice
A) Want B) Desire C) Need D) Choice
A) Money cost B) Money matter C) Monetary D) Monument
A) False B) True C) Unknown D) Partly |