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