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