A. Producing all output combinations in the least costly way
B. Producing the specific output mix most desired by society
C. Producing the desired ones only
D. None
Agriculture Mcqs
A good used together with another good is……………….?
A. Superior good
B. Normal good
C. Complementary good
D. None
determinants of demand are some times referred as……………………..?
A. Demand effectors
B. Demand determinants
C. Demand shifters
D. none
………………provides an overview of the operation of the capitalist system ?
A. Indifference curve
B. Income budget line
C. Circular flow model
D. Says law
Hitler introduced ?
A. Command economy
B. Traditional economy
C. Mixed economy
D. Authoritarian economy
The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity…………….?
A. Pure capitalism
B. Iaissez faire capital
C. Both
D. None
A particular set of institutional arrangement and a coordinating mechanism is……………….?
A. Economic system
B. Fascism
C. Mixed system
D. None
Any point inside the production possibility curve represents ?
A. Unemployment
B. Failure to achieve productive efficiency
C. Both A. and B.
D. None of these
Directing domestic resources to output which a nation is highly efficient at producing is called………………..?
A. International Trade
B. Speculation
C. International specialization
D. None
Opportunity cost is illustrated by the……………….?
A. Steep slope
B. Downward slope
C. Positive slope
D. None