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