A. doubled since 1974
B. tripled since 1074
C. quadrupled since 1974
D. increased nearly sevenfold since 1974
Miscellaneous Economics Mcqs
The main problem facing societies with a surplus is…………………?
A. how to get rid of it
B. what to produce how produce it and for whom to produce it
C. there is no problem it is divided equally
D. how to keep it away from enemies
Which economic orientations govern Western industrial societies ?
A. Tradition
B. Command
C. Free Market
D. BOTH market and command
Efficiency in economic terminology means…………….?
A. using existing technology
B. obtaining the highest output in the least amount of time
C. ignoring the time factor
D. making do with as few workers as possible
Specialized division of labor in industrial societies can make workers feel that they……………?
A. have lack of control
B. have no sense of accomplishment
C. are an anonymous group
D. all of the above
The market system consists of planning by………………?
A. inducement
B. direction
C. command
D. tradition
In contemporary market systems competition………………..?
A. is quite strong
B. is diluted by private and state monopolies
C. does not exist
D. has been replaced by planning
The Protestant Ethic supported capitalism through the religious doctrine that praised……………..?
A. hard work and thrift
B. predestination
C. turning the other cheek
D. buying indulgences
With the shift from family capitalism to industrial capitalism the important unit became the……………?
A. corporation
B. government
C. commune
D. union
One of the side effects of advertising is that it…………….?
A. supplies the real needs of people
B. creates artificial demands
C. helps the wealthy get richer
D. none of the above