Economics | Study Mode

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Question 1
A
limited while means are scarce 
B
unlimited and means are also unlimited 
C
limited and means are also limited 
D
unlimited while means are scarce 
Explanation.
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Correct Option:
D
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Question 2
A
satisfying wants 
B
making rational 
C
making optinum allocation of resources 
D
using scarce resources efficiently 
Explanation.
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Correct Option:
A
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Question 3
A
forces of demand and supply 
B
producers of the commodities 
C
the central planning authority 
D
consumers who are sovereign 
Explanation.
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Correct Option:
C
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Question 4
A
Bauxite deposit in the ground 
B
A lake used for irrigation 
C
A bulldozer for clearing farm land 
D
Grazing field for cattle 
Explanation.
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Correct Option:
C
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Question 5
A
$2,400.00 
B
$2,000.00 
C
$1,200.00 
D
$1,000.00 
Explanation.
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Correct Option:
A
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Question 8
A
increase 
B
fall 
C
fluctuate 
D
remain unchanged 
Explanation.
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Correct Option:
A
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Question 9
A
11 
B
17 
C
23 
D
47 
Explanation.
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Correct Option:
B
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