Which of these is a necessary condition for trade by barter?
Double coincidence of wants
Double exchange rate
Durability of goods
Divisibility of commodities
Correct answer is A
No explanation has been provided for this answer.
The formular used by the Expenditure approach to calculate National income is
Y= C + I + X - M –G
Y= C + X – M – I + G
Y = C + I + G + X – M
Y = C – I + X – M + G
Y = C + G – X + M – I
Correct answer is C
No explanation has been provided for this answer.
In a two-sector economy, income is a function of
Consumption + investment
consumption + Investment + tax
Consumption + investment + expenditure
Consumption + exports + imports
Saving + investment
Correct answer is A
No explanation has been provided for this answer.
Elastic demand
Inelastic demand
Negative demand
Positive demand
Unitary demand
Correct answer is B
No explanation has been provided for this answer.
Capitalism
Communism
Socialism
Traditionalism
Welfarism
Correct answer is A
Capitalism is an economic system in which private individuals or businesses own capital goods, and decide what and how to produce goods.