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MCQs

Total Questions : 235 | Page 7 of 24 pages
Question 61. The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
  1.    Pure capitalism
  2.    Iaissez faire capital
  3.    Both
  4.    None
 Discuss Question
Answer: Option C. -> Both
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 62. Hitler introduced ?
  1.    Command economy
  2.    Traditional economy
  3.    Mixed economy
  4.    Authoritarian economy
 Discuss Question
Answer: Option D. -> Authoritarian economy
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 63. __________________provides an overview of the operation of the capitalist system ?
  1.    Indifference curve
  2.    Income budget line
  3.    Circular flow model
  4.    Says law
 Discuss Question
Answer: Option C. -> Circular flow model
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 64. Determinants of demand are some times referred as__________________________?
  1.    Demand effectors
  2.    Demand determinants
  3.    Demand shifters
  4.    none
 Discuss Question
Answer: Option C. -> Demand shifters
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 65. A good used together with another good is___________________?
  1.    Superior good
  2.    Normal good
  3.    Complementary good
  4.    None
 Discuss Question
Answer: Option C. -> Complementary good
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 66. Productive efficiency means___________________?
  1.    Producing all output combinations in the least costly way
  2.    Producing the specific output mix most desired by society
  3.    Producing the desired ones only
  4.    None
 Discuss Question
Answer: Option A. -> Producing all output combinations in the least costly way
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 67. An individuals demand curve is down sloping because_____________________?
  1.    Price and quantity demanded are inversely related
  2.    P & D are directly related
  3.    There is no relation bet P & D
  4.    None
 Discuss Question
Answer: Option A. -> Price and quantity demanded are inversely related
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 68. Commodities whose demand varies directly with money income are called______________________?
  1.    Superior or normal goods
  2.    Complementary goods
  3.    Substitutes
  4.    None
 Discuss Question
Answer: Option A. -> Superior or normal goods
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 69. Allocative efficiency is__________________?
  1.    Producing all output combinations in least costly way
  2.    Producing the specific output mix most desired by society
  3.    Producing the desired things
  4.    None
 Discuss Question
Answer: Option A. -> Producing all output combinations in least costly way
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 70. Upward shift of the demand curve is due to_________________?
  1.    Changing in quantity demanded
  2.    Increase in demand
  3.    Decrease in quantity demanded
  4.    None
 Discuss Question
Answer: Option B. -> Increase in demand
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

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