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MCQs

Total Questions : 235 | Page 3 of 24 pages
Question 21. A measure of average output or real output per unit of input is called____________________?
  1.    Efficiency
  2.    Production
  3.    Productivity
  4.    None
 Discuss Question
Answer: Option C. -> Productivity
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 22. The households and the business firms of the economy are called__________________?
  1.    Public sector
  2.    Private sector
  3.    Govt sector
  4.    None
 Discuss Question
Answer: Option B. -> Private sector
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 23. The process of deriving principles is called___________________?
  1.    theoretical economics
  2.    Economics analysis
  3.    Both A. and B.
  4.    None of these
 Discuss Question
Answer: Option C. -> Both A. and B.
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 24. An analytic approach in which we move from general to particular from theory to facts is_________________?
  1.    Induction
  2.    Deduction
  3.    Specification
  4.    None
 Discuss Question
Answer: Option B. -> Deduction
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 25. “Wealth of nations” was written by_________________?
  1.    Lewis
  2.    Rostow
  3.    Keynes
  4.    Adam Smith
 Discuss Question
Answer: Option D. -> Adam Smith
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 26. All goods and services produced in a country in one year are called its__________________?
  1.    GNP
  2.    GDP
  3.    NDP
  4.    None of these
 Discuss Question
Answer: Option B. -> GDP
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 27. Using part of income/saving for more income is called_________________?
  1.    Investment
  2.    Busyness
  3.    Consumption
  4.    Entrepreneurship
 Discuss Question
Answer: Option A. -> Investment
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 28. Total consumption deducted from total income is called__________________?
  1.    Net income
  2.    Gross income
  3.    Saving
  4.    None of these
 Discuss Question
Answer: Option C. -> Saving
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 29. An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
  1.    Command economy
  2.    Closed economy
  3.    Open economy
  4.    None
 Discuss Question
Answer: Option A. -> Command economy
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 30. The total revenue of a film less all its economic costs is called_____________________?
  1.    Economy Profit
  2.    Pure Profit
  3.    Above normal Profit
  4.    All these
 Discuss Question
Answer: Option D. -> All these
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

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