Arrangement of wants in order of importance is brought about by?
A. excess supply of goods B. interest in doing so C. scarcity of resources D. opportunity cost E. limited wants Correct Answer: Option C – scarcity of resources
Which of the following is NOT a factor to be considered in siting an industry in a particular area?
A. access to raw material B. availability of recreational facilities C. market D. sources of power E. transport facilities Correct Answer: Option B – availability of recreational facilities
The amount of money required for the day-to-day running of a business is known as?
A. economics capital B. fixed capital C. paid-up capital D. reserve capital E. working capital Correct Answer: Option E – working capital
The excess profit made by a firm in a competitive market situation in the short-term is known as?
A. break even B. marginal profit C. net profit D. normal profit E. super normal profit Correct Answer: Option E – super normal profit
Individuals who buy new shares in anticipation of reselling at higher prices in the stock exchange market are called?
A. bears B. brokers C. bulls D. jobbers E. stags Correct Answer: Option C – bullsProducts
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