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