The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above
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(3) More wants and less goods Explanation: The theory of Economic problem states that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. The problem then becomes how to determine what is to be produced and how the factors of production (such as capital and labor) are to be allocated. In short, the economic problem is the choice one must make, arising out of limited means and unlimited wants.
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The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Description : The problem of Economics arises from (1) Plenty (2) Scarcity of goods (3) More wants and less goods (4) All of the above

Last Answer : More wants and less goods

Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Description : Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Last Answer : (3) scarcity of resources Explanation: The theory of Economic problem states that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. The ... produced and how the factors of production (such as capital and labor) are to be allocated.

Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Description : Economic problem arises mainly due to (1) overpopulation (2) unemployment (3) scarcity of resources (4) lack of industries

Last Answer : scarcity of resources

Earthworms are (a) ammonotelic when plenty of water is available (b) ureotelic when plenty of water is available (c) uricotelic when plenty of water is available (d) uricotelic under conditions of water scarcity

Description : Earthworms are (a) ammonotelic when plenty of water is available (b) ureotelic when plenty of water is available (c) uricotelic when plenty of water is available (d) uricotelic under conditions of water scarcity

Last Answer : (a) ammonotelic when plenty of water is available

Theoretically trade between two countries lakes place on account of - (1) differences In costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Description : Theoretically trade between two countries lakes place on account of - (1) differences In costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Last Answer : (3) comparative differences in costs Explanation: Trade exists for man clue to specialization and division of labor, most people concentrate on a small aspect of production, trading for other ... for the benefits of mass production thus providing cost advantage of producing the same commodity.

Theoretically trade between two countries lakes place on account of (1) differences in costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Description : Theoretically trade between two countries lakes place on account of (1) differences in costs (2) scarcity of goods (3) comparative differences in costs (4) need for exports

Last Answer : comparative differences in costs

The fundamental economic problem faced by all societies is: a. unemployment b. inequality c. poverty d. scarcity

Description : The fundamental economic problem faced by all societies is: a. unemployment b. inequality c. poverty d. scarcity

Last Answer : d. scarcity

How easy is it to tell needs from wants if you reside in a land of plenty (such as the US, Canada, the UK or places with all the modern creature comforts)?

Description : How easy is it to tell needs from wants if you reside in a land of plenty (such as the US, Canada, the UK or places with all the modern creature comforts)?

Last Answer : answer:I personally don't know of a person (rural Midwest) that gives a thought to their needs. Food, shelter and clothing are a given, it's the grade that they want that is in ... and nearly no one in the industrialized world appreciates what they have, or distinguish between want and need.

Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : (4) GNP Explanation: Gross National Product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country. It is ... ), defined as "the value of all final goods and services produced in a country in I year."

Seawater, fresh air, etc., are regarded in Economics as - (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Description : Seawater, fresh air, etc., are regarded in Economics as - (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Last Answer : (3) free goods Explanation: Free goods are what is needed by the society and is available without limits, The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society.

'Gresham's Law' in Economics relates to (1) supply and demand (2) circulation of currency (3) consumption of supply (4) distribution of goods and services

Description : 'Gresham's Law' in Economics relates to (1) supply and demand (2) circulation of currency (3) consumption of supply (4) distribution of goods and services

Last Answer : (2) circulation of currency Explanation: Gresham's law is an economic principle that states: "When a government compulsorily overvalues one type of money and undervalues another, the undervalued money will leave ... will flood into circulation." It is commonly stated as: "Bad money drives out good."

The term "market" in Economics means - (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Description : The term "market" in Economics means - (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Last Answer : (1) A central place Explanation: The most important defining characteristic of a market in economics is that it allows buyers and sellers to exchange any type of goods, services and ... place is so called because it is centrally located to maximize accessibility from the surrounding region.

1) Which among the following could be said to be an 'Open Economy'?a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other nations in goods and services and financial assets c) An economy that operates without government intervention d) None of the above

Description : 1) Which among the following could be said to be an 'Open Economy'? a) A nation that follows the doctrine of Free-market and Laissez-faire economics b) A nation that trades with other ... services and financial assets c) An economy that operates without government intervention d) None of the above

Last Answer : : b) A nation that trades with other nations in goods and services and financial assets

Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : GNP

The term “market” in Economics means (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Description : The term “market” in Economics means (1) A central place (2) Presence of competition (3) Place where goods are stored (4) Shops and super bazars

Last Answer : A central place

Seawater, fresh air, etc., are regarded in Economics as (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Description : Seawater, fresh air, etc., are regarded in Economics as (1) Giffen goods (2) inferior goods (3) free goods (4) normal goods

Last Answer : free goods

PPF is negative sloped due to (a) Scarcity of production resources ; (b) Unlimited wants ; (c) Improvement in technology; (d) Increasing opportunity cost

Description : PPF is negative sloped due to (a) Scarcity of production resources ; (b) Unlimited wants ; (c) Improvement in technology; (d) Increasing opportunity cost 

Last Answer : (a) Scarcity of production resources ; 

Scarcity of resources leads to (a) Unsatisfaction of human wants ; (b) Evaluation of alternative uses of scarce resources; (c) Both ; (d) None

Description : Scarcity of resources leads to (a) Unsatisfaction of human wants ; (b) Evaluation of alternative uses of scarce resources; (c) Both ; (d) None

Last Answer : (c) Both ;

'Capital gains' refers to goods which - (1) serve as a source of raising further capital (2) help in the further production of goods (3) directly go into the satisfaction of human wants (4) find multiple uses

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‘Capital gains’ refers to goods which (1) serve as a source of raising further capital (2) help in the further production of goods (3) directly go into the satisfaction of human wants (4) find multiple uses

Description : ‘Capital gains’ refers to goods which (1) serve as a source of raising further capital (2) help in the further production of goods (3) directly go into the satisfaction of human wants (4) find multiple uses

Last Answer : help in the further production of goods

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Description : Scarcity of capital , technological backwardness and unemployment are generally found in a. Developed countries b. Underdeveloped countries c. Both d. None of the above

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Description : A foreign currency transaction arises when an enterprise buys or sells goods or services whose price is denominated in the reporting currency.

Last Answer : FALSE

Can supply-side economics resolve a demand-side economic problem?

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Last Answer : answer:@ETpro, in researching your links (and doing a little more research on my own), I found it interesting that both demand-side and supply-side supporters reach as far back as James Hamilton (first US ... short, you have the Great Society of LBJ. Too bad that was derailed by the war in Vietnam

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Description : The basic problem studied in Macro - Economics is (1) production of income (2) usage of income (3) flow of income (4) distribution of income

Last Answer :  production of income

Structural unemployment arises due to : (1) deflationary conditions (2) heavy industry bias (3) shortage of raw materials (4) inadequate productive capacity

Description : Structural unemployment arises due to : (1) deflationary conditions (2) heavy industry bias (3) shortage of raw materials (4) inadequate productive capacity

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Operating Surplus arises in the - (1) Government Sector (2) Production for self consumption (3) Subsistence farming (4) Enterprise Sector

Description : Operating Surplus arises in the - (1) Government Sector (2) Production for self consumption (3) Subsistence farming (4) Enterprise Sector

Last Answer : (1) Government Sector

Price effect in indifference curve analysis arises A.When the consumer becomes either better off or worse off because price change is not compensated by income change. B.When the consumer is betler off due to a change in income and price C.When income and price change D.None of the above

Description : Price effect in indifference curve analysis arises A.When the consumer becomes either better off or worse off because price change is not compensated by income change. B.When the consumer is betler off due to a change in income and price C.When income and price change D.None of the above

Last Answer : A.When the consumer becomes either better off or worse off because price change is not compensated by income change.

Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

Description : Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

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Structural unemployment arises due to : (1) deflationary conditions (2) heavy industry bias (3) shortage of raw materials (4) inadequate productive capacity

Description : Structural unemployment arises due to : (1) deflationary conditions (2) heavy industry bias (3) shortage of raw materials (4) inadequate productive capacity

Last Answer : inadequate productive capacity

Operating Surplus arises in the (1) Government Sector (2) Production for self-consumption (3) Subsistence farming (4) Enterprise Sector

Description : Operating Surplus arises in the (1) Government Sector (2) Production for self-consumption (3) Subsistence farming (4) Enterprise Sector

Last Answer :  Government Sector

A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : (a) An increase in demand ;

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

Last Answer : ; (c) Decrease in demand ;

Explain how the people of Rajasthan use to overcome the problem of water scarcity. -Geography

Description : Explain how the people of Rajasthan use to overcome the problem of water scarcity. -Geography

Last Answer : One of the commonly used technique was rooftop rainwater harvesting. In the semi-arid regions of Rajasthan agricultural fields were converted into storage structures. In some regions such as Bikaner, Phalodi tankas, i.e. the underground water storage tanks were used to store water.

How has agriculture aggravated the problem of water scarcity in India ? Explain. -SST 10th

Description : How has agriculture aggravated the problem of water scarcity in India ? Explain. -SST 10th

Last Answer : (i) Water is a basic input in agriculture. It is used for irrigation. (ii) HYV seeds needs more water as compared to traditional seeds. (iii) Commercialisation of agriculture has also lead to ... associated with agriculture. The water table has lowered in many parts of India due to its overuse.

Why is Scarcity the basic economic problem?

Description : Why is Scarcity the basic economic problem?

Last Answer : Where resources are finite, or require active distribution, theycan become unavailable in the quantities needed or desired, atleast in some locations.Scarcity (a lack of sufficient supply) can strongly ... simply a natural flaw of that paradigm. Therefore,scarcity is truly a matter of perception.

Why is Scarcity the basic economic problem?

Description : Why is Scarcity the basic economic problem?

Last Answer : Where resources are finite, or require active distribution, theycan become unavailable in the quantities needed or desired, atleast in some locations.Scarcity (a lack of sufficient supply) can strongly ... simply a natural flaw of that paradigm. Therefore,scarcity is truly a matter of perception.

Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values

Description : Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values 

Last Answer : (b) Scarcity of economic resources ;

The main economic problem faced by all society is. a) Unemployment b) Inequality c) Poverty d) Scarcity

Description : The main economic problem faced by all society is. a) Unemployment b) Inequality c) Poverty d) Scarcity

Last Answer : Answer- d

Intermediate goods are not included to calculate the final output because: a) they do not have value b) they have unknown value c) their value is included in final goods so they are not added to avoid the problem of double counting d) none of the above

Description : Intermediate goods are not included to calculate the final output because: a) they do not have value b) they have unknown value c) their value is included in final goods so they are not added to avoid the problem of double counting d) none of the above

Last Answer : : c) their value is included in final goods so they are not added to avoid the problem of double counting

What problem arises in using alitane as artificial sweetener ?

Description : What problem arises in using alitane as artificial sweetener ? 

Last Answer : Ans. It is a high potency artificial sweetener. Therefore it is difficult to control the sweetness of the food to which it is added.

The problem, due to Rh– factor arises when the blood of two (Rh+ and Rh–) mix up (a) during pregnancy (b) in a test tube (c) through transfusion (d) both (a) and (c)

Description : The problem, due to Rh– factor arises when the blood of two (Rh+ and Rh–) mix up (a) during pregnancy (b) in a test tube (c) through transfusion (d) both (a) and (c)

Last Answer : (d) both (a) and (c)

Which among the following is incorrect: a) Computer - Machine that will carry out the process described by program b) Person - Programmer who serves as the source of the communication c) Process - The Activity being described by the program d) Problem - Actual System or environment where the problem arises e) None of These f) All of the above

Description : Which among the following is incorrect: a) Computer - Machine that will carry out the process described by program b) Person - Programmer who serves as the source of the communication c) Process - The ... - Actual System or environment where the problem arises e) None of These f) All of the above

Last Answer : e) None of These

Which of the following problem arises in D.C. motors which are fed from thyristor bridge circuits ? (a) Increased I R losses (b) Increased core losses (c) Poor commutation (d) Change in motor parameters (e) All of the above

Description : Which of the following problem arises in D.C. motors which are fed from thyristor bridge circuits ? (a) Increased I R losses (b) Increased core losses (c) Poor commutation (d) Change in motor parameters (e) All of the above

Last Answer : (e) All of the above

Value-added means value of - (1) output at factor cost (2) output at market prices (3) goods and services less depreciation (4) goods and services less cost of intermediate goods and services

Description : Value-added means value of - (1) output at factor cost (2) output at market prices (3) goods and services less depreciation (4) goods and services less cost of intermediate goods and services

Last Answer : (4) goods and services less cost of intermediate goods and services Explanation: Value added is an economic term to express the difference between the value of goods and the cost of materials or ... services by others. So it is of goods and services less cost of intermediate goods and services.

Value-added means value of (1) output at factor cost (2) output at market prices (3) goods and services less depreciation (4) goods and services less cost of intermediate goods and services

Description : Value-added means value of (1) output at factor cost (2) output at market prices (3) goods and services less depreciation (4) goods and services less cost of intermediate goods and services

Last Answer : goods and services less cost of intermediate goods and services

The need for assurance services arises because: a. There is a potential bias in providing information. b. Economic transactions are less complex than they were a decade ago. c. There is a consonance of interests of the preparer and the user of the financial statements. d. Most users today have access to the system that generates the financial statements they use

Description : The need for assurance services arises because: a. There is a potential bias in providing information. b. Economic transactions are less complex than they were a decade ago. c. There is a consonance ... . d. Most users today have access to the system that generates the financial statements they use

Last Answer : There is a potential bias in providing information

No politicking, just economics. Would simply taxing all goods and services work better than the American system of taxation? Akin to sales tax.

Description : No politicking, just economics. Would simply taxing all goods and services work better than the American system of taxation? Akin to sales tax.

Last Answer : I think, and have for awhile, taxing individuals is messy and inefficient. Taxing all goods and services is even more messy and inefficient. If I had to redo from scratch, I’d perhaps only tax corporations, inheritances, and capital gains as a way to simplify everything.

Explain the four requirements for production of goods and services. Explain the importance of any one. -Economics 9th

Description : Explain the four requirements for production of goods and services. Explain the importance of any one. -Economics 9th

Last Answer : The four requirements of production of goods and services are land, labor, physical capital and human capital. 1) Land - Land is the physical place where all the economic activity takes ... other requirements like land, labor and physical capital to start the production of goods and services.