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- Question
Economics is the study of how society manages its
Options- A. Limited resources & limited wants
- B. Unlimited wants & unlimited resources
- C. Limited wants & unlimited resources
- D. Limited resources & unlimited wants
- Correct Answer
- Limited wants & unlimited resources
ExplanationEconomics is the study of how society manages its scarce resources i.e, Limited wants & unlimited resources.
- 1. Microeconomics is concerned with issues such as
Options- A. inflation
- B. interest rates
- C. unemployment
- D. which job to take Discuss
- 2. A decline in disposable income means Discuss
- 3. A master plan is devised for
Options- A. Long-range goals
- B. Emergencies
- C. Short-term goals
- D. Investments Discuss
- 4. Economics involves marginal analysis because
Options- A. marginal benefits always exceed marginal costs
- B. much economic behavior is irrational
- C. most decisions involve changes from the present situation
- D. marginal costs always exceed marginal benefits Discuss
- 5. The goal of a command economy is to
Options- A. create equality within a society
- B. mixed-market
- C. Both A & B
- D. None of the above Discuss
- 6. Economics deals primarily with the concept of
Options- A. Poverty
- B. Money
- C. Scarcity
- D. Banking Discuss
- 7. The term market in economics refers to Discuss
- 8. Money spent on government programs is referred to as
Options- A. Revenue
- B. Obligation
- C. Expenditure
- D. Bonding Discuss
- 9. Sales commissions are classified as
Options- A. period costs
- B. indirect labor
- C. overhead costs
- D. product costs Discuss
- 10. A business owned by one person
Options- A. Sole proprietorship
- B. Non profit
- C. Limited liability
- D. None of the above Discuss
Indian Economy problems
Search Results
Correct Answer: unemployment
Correct Answer: Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for A decline in disposable income means a movement down along an economy's consumption schedule
Correct Answer: Long-range goals
Explanation:
A master plan is devised for long-range goals.
Correct Answer: most decisions involve changes from the present situation
Correct Answer: create equality within a society
Correct Answer: Scarcity
Correct Answer: The term market in economics refers to the place or arrangement where the buyers and sellers come to contact directly or indirectly for buying and selling goods Market refers to not a specific or particular place it is the place for commodities
Correct Answer: Expenditure
Explanation:
Money spent by the government on government programs such as road work, electricity work, manhole, etc... that are aiming to contribute to the nation's social welfare in long and short term are referred to as Goverment Expenditures.
Correct Answer: product costs
Correct Answer: Sole proprietorship
Explanation:
A business owned by one person and operates for their benefits is called as Sole Proprietorship or sole trader.
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