Most of the problems of economics arises as a result of
Competing demand for scarce resources
Increase in the demand for more goods and services
The desire of producers to supply more goods and services
The need to reduce the level of poverty
Correct answer is A
No explanation has been provided for this answer.
Stabilization of oil prices
Co-ordinating prices
Co-ordinating prices
Stagnation of developed economies
Correct answer is D
No explanation has been provided for this answer.
Economic development is define as
Outward shift of the production possibility curve
Availability of more goods and services
Growth accompanied by qualitative change in living standards
Growth in the national income
Correct answer is C
No explanation has been provided for this answer.
Double counting
Price fluctuation
Price differentiation
Price discrimination
Correct answer is A
No explanation has been provided for this answer.
An economy which exhibits features of both private and State enterprises is known as
Capitalist economy
Mixed economy
Communist economy
Socialist economy
Correct answer is B
No explanation has been provided for this answer.