The additional satisfaction derived from the consumption of one or more unit of a good is called
Marginal products
Marginal utility
Marginal revenue
Marginal cost
Correct answer is B
No explanation has been provided for this answer.
Which of the following is an advantage of localization of industry?
Development of subsidiary firms
Creation of parallel markets
Developments of slums
Attraction of foreign capitals
Correct answer is A
No explanation has been provided for this answer.
A major limiting factor of mass production is
Efficient management
Adequate labour supply
Small size of the market
Adequate supply of raw materials
Correct answer is C
No explanation has been provided for this answer.
One major function of the entrepreneur is
Bearing of risks
Maximizing profits
Taking charge of day to day management
Determining the selling price of his products
Correct answer is A
No explanation has been provided for this answer.
Which of the following factors of production consists of man made goods?
Land
Labour
Capital
Entrepreneur
Correct answer is C
No explanation has been provided for this answer.