In which of the following economic system is the consumer referred to as the king?
Capitalist economy
Socialist economy
Communist economy
Mixed economy
Correct answer is A
No explanation has been provided for this answer.
The difference between the highest and lowest in a set of data is
Range
Median
Variance
Mode
Correct answer is A
No explanation has been provided for this answer.
Which of the following is the function of an entrepreneur?
Avoidance of risks
Decision making
Employment control
Organizing unions
Correct answer is B
No explanation has been provided for this answer.
Reward for entrepreneurship is
Rent
Wages
Interest
Profit
Correct answer is D
No explanation has been provided for this answer.
Payment made on aquisition of a firm's premises
Payment made for the procurement of tools and equipments
Returns on investment
Payments made on any factors of production that is temporary fixed in supply
Correct answer is D
No explanation has been provided for this answer.