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