Abstention from consumption enables capital to be produced. Such abstention is called
Savings
Production
Accumulation
Factors of production
Opportunity cost
Correct answer is A
No explanation has been provided for this answer.
Factory buildings, machinery and raw materials are known in Economics as
Personal wealth
Social wealth
Government wealth
Business wealth
Public wealth
Correct answer is D
No explanation has been provided for this answer.
The debt of a company can only be paid from its own assets
The debts of a company are paid from business as well as private funds of the owners
A company does not have to pay its debts
The debts of a company must be paid from a private funds only
Government cannot tax a company
Correct answer is A
No explanation has been provided for this answer.
Under normal circumstances, a producer will bear the entire burden of taxation on his output if the
Supply of his goods is more elastic than the demand
Demand for his products is completely elastic
Production of his commodity is subject to diminishing returns
Demand for his products is more elastic than the supply
Demand for his products is completely elastic
Correct answer is E
No explanation has been provided for this answer.
When a firm's total revenue is at the maximum, marginal revenue is
At the maximum
Negative
Zero
Positive
Constant
Correct answer is C
No explanation has been provided for this answer.