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