A. Scarcity B. choice C. A scale of preference D. opportunity cost Correct Answer: Option C - A scale of…
A. dividing the GNP by total population B. adding the total savings to the GNP C. multiplying the GNP by…
A. external diseconomies of scales B. internal diseconomies of scales C. internal economies of scales D. external economies of scales…
A. variable B. diminishing C. constant D. fixed Correct Answer: Option A - variable
A. buy stocks when interest is high B. overcome unforeseen contingencies C. buy goods and services on a daily basis…
A. implicit cost only B. explicit cost only C. implicit and explicit costs D. explicit cost less implicit Correct Answer:…
A. total output less number of workers B. total output multiplied by number of workers C. number of workers less…
A. linear B. quadratic C. cubical D. exponential Correct Answer: Option A - linear
A. stock exchange B. barter system C. banking D. co-operative system Correct Answer: Option B - barter system
A. a natural resources found everywhere B. a stock of physical assets used for production C. the organization of human…