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Economic problem arises when:-
a) When wants are unlimited b) When resources are unlimited c) When resources have alternative uses d) All of the above |
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Socialist economy is also known as:
a) Mixed economy
b) Planned economy
c) Capitalist economy
d) None of the above |
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What will be the shape of PPC curve when marginal opportunity cost is constant?
a)Concave
b)Convex
c)Backward bending
d)Straight line |
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In a free market economy, when consumers increase their purchase of a item, the price increases due to
a)Demand,Supply b)Regulation c)Cartelisation d)Production of items |
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Which of the following is not a feature of a capitalist economy?
a)Right to private property
b)Restrictions on consumers
Right to choose
c)Profit motive
d)Freedom of enterprise |
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In which type of economy do consumers and producers make their choices based on the market forces of demand and supply?
a)Open Economy
b)Controlled Economy
c)Command Economy
d)Market Economy |
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Under a free economy ,prices are:
a)Regulated
b)Determined through free interplay of demand and supply
c)Partly Regulated
d)None of these |
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How are depreciation keys defined? |
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If the opportunity cost is constant, then PPC would be:
a)Convex
b)Straight line
c)Backward bending
d)Concave |
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Which one is the feature of Marshall's definition?
a)Limited ends
b)Scarce means
c)Study of wealth as well as study of man
d)Study of allocation of resources |
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Where does price mechanism exists?
a)Capitalist economy
b)Socialist economy
c)Both type of economies
d)None of the above |
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Dual system of pricing exist in:
a)Free market economy
b)Socialistic economy
c)Mixed economy
d)None of the above |
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According Robbins, 'means' are:
a)Scarce
b)Unlimited
c)Undefined
d)All of these |
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What is the clearing basis for check deposit? |
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The term "Mixed Economy" denotes:-
a) Private Sector. b) Co-existence of both Private and Public Sectors in the economy. c) Public Sector. d) None of the Above. |
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Who has defined economics as "Science which deals with Wealth"
a)Adam Smith b)Canon c)J.B. Say d) Ford |
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A developed economy uses_____ technique in production.
a)Labour intensive
b)Capital intensive
c)Home-based
d)Traditional |
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Positive science always explains a)What is? b)What ought to be? c)What is right or wrong? d)None of the above |
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