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 ;
Description : Scarcity of resources means (a) Limited resources ; (b) Non – esxistence of resources ; (c) Both ; (d) None
Last Answer : (a) Limited resources ;
Description : Economic resources are (a) Unlimited ; (b) Limited in supply and use ; (c) Limited in supply but have alternative uses; (d) Unproductive
Last Answer : (c) Limited in supply but have alternative uses;
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 ;
Description : In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three
Last Answer : ; (d) All the three
Description : According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three
Last Answer : (d) All the three
Description : The paradox of Diamond is more costly than water is explained by (a) Marginal utility concept ;(b) Scarcity ; (c) Relative cost of production ; (d) All the three
Last Answer : ;(b) Scarcity ;
Description : We need to conserve water because: a. Water resources are over-exploited b. Irrigation utilizes more than 90% of the total fresh water c. Over population leads to water scarcity d. All of the above
Last Answer : d. All of the above
Description : The level at which the software uses scarce resources is (A) reliability (B) efficiency (C) portability (D) all of the above
Last Answer : (B) efficiency
Description : Human wants are (a) Unsatisfiable ; (b) Unlimited ; (c) Undefined ; (d) Limited
Last Answer : ; (b) Unlimited ;
Description : Two Commodities X and UY can be inferred as complementary to each other if (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one leads to decrease ... in demand of other one (d) Increase in price of one leads to increase in demand of other one
Last Answer : (b) Increase in price of one leads to decrease in demand of other and vice versa
Description : Two commodities X and Y goods can be inferred as close substitute of each other if - (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one ... fall in demand of other one (d) Increase in price of one leads to increase in demand of other one
Last Answer : (a) Increase in price of one leads to increase in demand of other and vice versa
Description : Tea and coffee are (a) Complementary goods ; (b) Alternative goods ; (c) Unrelated goods ; (d) None of these
Last Answer : (b) Alternative goods ;
Description : Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three
Last Answer : (b) National stock ;
Description : If RBI wants to decrease the money supply in order to check inflation it will (a) Sell bonds ; (b) Increase CRR ; (c) Hike bank rate ; (d) All or any of the above three
Last Answer : ; (d) All or any of the above three
Description : Goods or services that are necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials
Last Answer : (a) Needs ;
Description : Goods or services that are not necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials
Last Answer : ; (c) Wants ;
Description : In question No. 53 if the economy produces only 3 guns and 900 tons of wheat instead of 1100 tons of wheat what does it indicates (a) Under employment of resources ; (b) Production in efficiency ; (c) Sub-optimal production; (d) All the three
Description : Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force
Last Answer : (c) Getting greatest satisfaction from available resources
Description : The opportunity cost of capital investment is (a) Sacrifice of current consumption ; (b) More consumption on luxury items; (c) Lower capital growth in future ; (d) Wastage of Resources
Last Answer : (a) Sacrifice of current consumption
Description : Which of these statement is true about production possibility curve (PPC/PPF) (a) It shows various combinations of two goods which yield same level of satisfaction (b) It shows various combination of two ... (d) It shows various combination of two goods which an economy can produce with a given time
Last Answer : (b) It shows various combination of two goods which an economy can produce with a given amount of resources
Description : In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are (a) Are the resources fully utilized or not ; (b) How efficient is the production and ... (c) Whether the capacity to produce or grow is increasing or is static ; (d) All the three
Description : Which of these resources would be called as land in economics (a) Coal mines of Bihar ; (b) Water resources of Uttaranchal ; (c) Mineral deposits of Jharkhand; (d) All the three
Description : In economic theory the term “means” refers to (a) Resources ; (b) Arithmetic mean ; (c) A characteristic ; (d) None
Last Answer : (a) Resources ;
Description : Do you think higher birth rates among the poor (which leads to increased scarcity and poverty) needs the same attention that global warming has gotten in recent years?
Last Answer : yes, yes and yes.thank you for bringing this up. no one talks about overpopulation any more. but the environmental crises come from this. the housing crisis indirectly came from this, too.
Description : Is Every purchase decision involves the use of two scarce resources?
Last Answer : Feel Free to Answer
Description : Identify the idea depicted in the cartoon: a. Equal distribution of income and wealth in the world. b. disparities of income and wealth between the rich and poor in the world c. The rich have access to scarce resources d. The poor have access to more resources because they are needy Correct
Last Answer : b. disparities of income and wealth between the rich and poor in the world
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 : (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. ... economic problem is the choice one must make, arising out of limited means and unlimited wants.
Last Answer : More wants and less goods
Description : Is it possible that an area or region may have ample water resources but is still facing water scarcity ? -SST 10th
Last Answer : Yes it is possible that an area or region may have ample water resources but is still facing water scarcity. Most of our cities are facing this proble. (i) In most of ... increasing population, industries and vehicles has made matter worse by exerting pressure on existing freshwater resources.
Description : An area or region may have ample water resources but still face water scarcity. -SST 10th
Last Answer : (i) Water scarcity in most of the cities are an outcome of dense and growing population. The multiplying urban centres and urban lifestyles of the huge population have not only added to ... industries, use of pesticides and chemical fertilisers in agriculture and due to dumping of domestic wastes.
Description : In a socialist econmoy how are the basic problems of scarcity and allocation of limited resources addressed?
Last Answer : What is the answer ?
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.
Description : Which is not a reason for conservation of water resources. A. The increase in population with the progress of time results in water scarcity. B. Our water resources like the river, lakes etc., are ... C. The water demand for industrial use will increase day by day. D. India gets little rain.
Last Answer : D. India gets little rain.
Last Answer : scarcity of resources
Description : Economics cannot be given the status of science because (a) Of non-uniformity of opinion and approach of economist; (b) Economic behaviour of human being is unpredictable; (c) Measuring rod of money is unstable ; (d) All the three
Description : Economics cannot be considered a perfect science because (a) Human behaviour is unpredictable (b) It is difficult to make correct prediction of economic variables (c) Economist do not have common opinion about a particular economic event (d) All the three
Description : Which of the following statem Which of the following statements are true about an ents are true about anticipation inventory? ticipation inventory? a)Inventory increases during periods of light demand b ... c)Increase in anticipation inventory leads to increases in pipeline inventory d)Both a and b
Last Answer : d)Both a and b
Description : After purchasing a new Micra, George sees a Fiesta pass him on the street and begins to wonder if he made the right choice. George is affected by A)problem recognition B)cognitive dissonance C)internal search D)alternative evaluation E)framing
Last Answer : B)cognitive dissonance
Description : As Bob runs out of shaving cream, he tries to remember what he did the last time this happened. He is engaging in: A)external search B)evoked set development C)internal search D)cognitive dissonance E)alternative evaluation
Last Answer : C)internal search
Description : Which of the following is a cause of frictional unemployment? (a) Non-availability of work due to strike and lock-out. (b) Temporary unemployment due to change over in jo(b) ; (c) Both ; (d) None
Last Answer : (c) Both ;
Description : If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase
Last Answer : (a) will increase and quantity will increase ;
Description : Deficit financing means (a) Financing budgetary deficit by borrowing (b) Financing budgetary deficit by printing money ; (c) Both ; (d) None
Description : Which of these terms are/is appropriate for RBI? (a) Banker’s Bank ; (b) Banker’s to the Government ; (c) Both ; (d) None
Description : If RBI sucks excess money into circulation this will effect (a) M1 ; (b) M2 ; (c) Both ; (d) None
Last Answer : ; (c) Both ;
Description : RBI check inflation by (a) Increasing bank rate ; (b) Increasing CRR ; (c) Both ; (d) None
Description : In a perfect competitive market price determines – (a) What to buy ; (b) What to produce ; (c) Both ; (d) None
Description : Which of the following faces a downward sloping demand curve (a) Firm in a competitive market ; (b) Firm in a monopoly market ; (c) Both ; (d) None
Last Answer : (b) Firm in a monopoly market ;
Description : If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down
Last Answer : (c) Quantity will go up ;
Description : An imposition of excise duty would effect the demand of a product due to ………….. (a) Income effect ; (b) Substitution effect ; (c) Both ; (d) None