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