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