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