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