(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) None of the above
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
Theory of production studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Theory of distribution studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Central problem of an economy can be:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Economic problem arises because:
(A) Wants are unlimited
(B) Resources are scare
(C) Alternative uses of resources exist
(D) All of the above
Disadvantages of inductive method can be:
(A) Expensive method
(B) Chances of personal bias of the investigators are present
(C) Complex method
(D) All of the above
Merits of inductive method of economic theory can be:
(A) Verifies economic facts
(B) Realistic and reasonable method
(C) Scientific method
(D) All of the above
Advantages of deductive method of economic theory can be:
(A) Simple method
(B) Universally applicable
(C) Accurate result
(D) All of the above