(A) Factors of production
(B) Raw materials
(C) Active inputs
(D) Both raw materials and factors of production
Tag: Economics Mcqs With Answers
Production process determines:
(A) Standard of living of people
(B) Welfare of the society
(C) Prosperity of a nation
(D) All of the above
Extraction from earth and transportation are examples of:
(A) Form utility
(B) Time utility
(C) Place utility
(D) All of the above
Creation of economic utility can be:
(A) Form utility
(B) Time utility
(C) Place utility
(D) All of the above
Supply function is a functional relationship between quantity supplied of a commodity and?
(A) Factors affecting supply
(B) Price of the commodity
(C) State of technology
(D) Government policy
Stock of a commodity is the:
(A) Total quantity that is available in a market at a certain time
(B) Total quantity that is available with wholesalers at a certain time
(C) Total quantity that is available with stockists at a certain time
(D) Total quantity that is available at a certain price
Which theory assumes ordinality of utility?
(A) Indifference curve theory
(B) Marginal utility theory
(C) None of the above
(D) Both A & B
Higher Indifference curve means:
(A) Consumer has more income
(B) Price of goods have reduced
(C) Higher utility level
(D) All of the above