In Economics, market is defined as
A place where buyers and sellers come together to exchange goods
Any agreement made for consumers to buy all they need
Any arrangement made for producers to sell all their goods
Any arrangement where by buyers and sellers are in close touch with one another
A place where only consumer goods are sold
Correct answer is D
No explanation has been provided for this answer.
Galloping
Induced
Creeping
Suppressed
Run-away
Correct answer is C
No explanation has been provided for this answer.
The greatest disadvantages of barter system is the need for
Durability
Divisibility
Homogeneity
Double coincidence of wants
Portability
Correct answer is D
No explanation has been provided for this answer.
Time series
Demand series
Demand curve
Demand schedule
Time schedule
Correct answer is D
No explanation has been provided for this answer.
Scarcity in Economics means that resources
Are not enough to share among producers of goods and services
Needed to satisfy human wants are limited
Are never enough to share among consumers of goods and services
Required to meet our essential wants are unlimited
Can be managed if those who use them can behave rationally
Correct answer is B
No explanation has been provided for this answer.