economics

In a capitalist system, the means of production is owned and controlled by?

A. the government B. politicians C. private individuals D. the workers Correct Answer: Option C C. private individuals

6 years ago

The three broad categories of productions are?

A. direct, secondary and extractive B. primary, tertiary and direct C. primary, secondary and tertiary D. secondary, primary and direct…

6 years ago

The reward for land as a factor of production is?

A. interest B. rent C. dividends D. wages Correct Answer: Option B B. rent

6 years ago

Which of the following is an economic activity?

A. attending a town's meeting B. a visit to the stadium C. payment of school fees D. arresting a petty…

6 years ago

Which of the following is not an objective of the Organization of Petroleum Exporting Countries (OPEC)?

A. Stabilization of oil prices B. Co-ordinating prices C. Co-ordinating prices D. Stagnation of developed economies Correct Answer: Option D…

6 years ago

Economic development is defined as?

A. Outward shift of the production possibility curve B. Availability of more goods and services C. Growth accompanied by a…

6 years ago

In calculating the national income of a country X, the cost of both raw materials and the finished products were included. This is a case of?

A. double counting B. price fluctuation C. price differentiation D. price discrimination Correct Answer: Option A A. double counting

6 years ago

An economy which exhibits features of both private and state enterprises is known as?

A. Capitalist economy B. Mixed economy C. communist economy D. socialist economy Correct Answer: Option B B. Mixed economy

6 years ago

In a capitalist system goods are produced for those who?

A. Want them most but cannot pay for them B. can pay for them but do not want them C.…

6 years ago