A) output B) choice C) wants D) resource
A) How to ensure continuous economic growth in the face of uncertainty B) None C) How to balance the needs of the economy with society and the environment D) The allocation of resources among competing wants because there are unlimited wants limited resources
A) The monetary equivalent of the utility of commodity B) Cost related to an optimum level of production C) Implicit cost D) Alternate forgone
A) list of goods and services in order of priority B) the household monthly income C) consumers preference for luxury goods D) budget perparation without paying due regard to priority
A) None of the above B) ranking of wants in an ascending order C) selection of most pressing wants out of a range of alternatives D) separating defective commodities from non-defective ones
A) The combination of resources to be used B) How many wants are to be satisfied C) Which goods and services to be produced D) How much goods are to be produced
A) efficiency of resource use B) for whom to produce C) how to produce D) scale of production
A) how to produce B) where to produce C) none D) efficient use if resources
A) scarcity B) wants C) choice D) none of the above
A) making rational B) making optimum allocation of resources C) using scarce resources efficiently D) satisfying wants
A) Government policies B) Capital C) Illiteracy D) The market
A) Alfred Marshal B) Bill Gates C) Adam Smith D) A.C Pigou
A) Physical sciences B) None of the above C) National sciences D) Social sciences
A) Wants B) Formulation of hypothesis C) Observation D) Collection of data
A) Financial prudence B) Expression of cost C) An insatiable desire of need by human being D) Limited supply of resources
A) A.C Pigou B) Mr Bean C) Lionel C Robbins D) John Stuart Mill
A) Wealth B) None C) Production and distribution D) Mankind
A) Technique of production B) Production function C) Technological advancement D) Factors of production
A) Wants and needs B) Choice and scarcity C) Labour and capital intensive D) Demand and supply
A) labour B) capital C) land D) machine
A) Choice B) Scarcity C) Wants D) Needs
A) Opportunity cost B) Choice C) Resources D) Wants
A) Observation B) Collecting of data C) Formulating laws D) Evaluation
A) Adam Smith B) None of the above C) A.C pigou D) H.J davenport
A) John Stuart Mill B) Lionel Robbins C) Alfred Marshal D) Lauren johnson
A) Labour and capital intensive B) None C) Capital intensive D) Labour intensive
A) Bars Charts B) Histogram C) Pictogram D) Pie chart
A) Simple bar chart B) Multiple bar chart C) All of the above D) Component bar chart
A) Component bar chart B) None C) Multiple bar chart D) Simple bar chart
A) Bar chart B) Pie charts C) Multiple bar chart D) Single bar chart
A) Charts B) Line graph C) All of the above D) Table
A) They must be labeled properly for better understanding B) Graph must possess appropriate scales C) They must have a title D) The must be numbered
A) None B) Graph C) Table D) Charts
A) Table B) Variable C) Graph D) Pictogram
A) 90 degree B) 100 degree C) 108 degree D) 105 degree
A) 85 degree B) 72 degree C) 75 degree D) 80 degree
A) None B) Protractor C) Compass D) Both
A) The payback period B) Problem of market limitation C) Availability of capital D) The return on investment
A) Government policies B) Stages of development C) Capital D) Entrepreneur ability
A) None of the above B) Private enterprises C) Joint ventureship D) Public enterprises |