Data presented in tables are usually arranged in ________ and ________
A. charts, tables B. , graphs, rows C. pictograms, columns D. rows, columns Correct Answer: Option D – rows, columns
The additional satisfaction derived from the consumption of one more unit of a good is called?
A. marginal cost B. marginal product C. marginal revenue D. marginal utility E. total Utility Correct Answer: Option D – marginal utility
Production is best defined in economics as?
A. creation of utility yielding goods and services B. distribution of goods and services C. manufacturing of goods by small factories D. provision of basic amenities E. rendering of services only Correct Answer: Option A – creation of utility yielding goods and...
A major feature of capitalism is?
A. collective ownership of means of production B. competition C. equality or egalitarianism D. redistribution of income E. socialization and welfare Correct Answer: Option B – competition
The demand for salt is ________?
A. Elastic B. Inelastic C. Unitary elastic D. both a and b Correct Answer: Option B – InelasticProducts
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