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MCQs

Total Questions : 874 | Page 85 of 88 pages
Question 841. The total value of goods and services produced within the a country during one year
  1.    Gross Domestic Product (GDP)
  2.    Gross National Income (GNI)
  3.    Gross Food Cafeteria (GFC)
  4.    Human Consumption Chart (HCC)
 Discuss Question
Answer: Option A. -> Gross Domestic Product (GDP)
Question 842. Tools used by people at work like assembly lines, or a hammer, or a ladder are called _______________
  1.    Labor
  2.    Capital
  3.    Revenue
 Discuss Question
Answer: Option B. -> Capital
Question 843. The limited availability of resources is known as
  1.    Scarcity
  2.    Voluntary Exchange
  3.    Profit
  4.    Opportunity Cost
 Discuss Question
Answer: Option A. -> Scarcity
Question 844. The amount of a good or service that is wanted is called:
  1.    supply
  2.    demand
  3.    equilibrium
  4.    inflation
 Discuss Question
Answer: Option B. -> demand
Question 845. Trading something for something else - no currency involved
  1.    demand
  2.    barter
  3.    goods
  4.    market
 Discuss Question
Answer: Option B. -> barter
Question 846. The idea that resources are limited; we don't have an unlimited supply of what we want
  1.    scarcity
  2.    supply
  3.    demand
  4.    inflation
 Discuss Question
Answer: Option A. -> scarcity
Question 847. Phrase that means how good a person's quality of life is
  1.    Opportunity standard
  2.    Standard of living
  3.    rent control
 Discuss Question
Answer: Option B. -> Standard of living
Question 848. What is scarce in the following scenario: You have to go to work but if you work a lot of hours you are going to be very tired
  1.    Work
  2.    Money
  3.    Sleep
  4.    Time
 Discuss Question
Answer: Option D. -> Time
Question 849. This measurement is used to determine how well a country's economy is doing
  1.    Stock Market Prices
  2.    Gross National Assessment
  3.    Gross Domestic Product
 Discuss Question
Answer: Option C. -> Gross Domestic Product
Question 850. Name for the risk-taking businessmen who start businesses and are one of the factors of production
  1.    Land
  2.    Labor
  3.    Capital
  4.    Entrepreneurship
 Discuss Question
Answer: Option D. -> Entrepreneurship

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