Human want are unlimited because
Production is inadequate
Resources have alternative uses
New wants always rise
Resources are limited
Correct answer is C
It means that people never get enough, that there's always something else that they would want or need. Unlimited wants and needs are one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is limited resources.
Gives aid for defence
Offers loans for public projects
Offers aid to finance private projects
Gives loans for legal proceedings
Correct answer is B
The world's largest development bank, IBRD also known as the world bank provides financial aid, loans, and policy advice to countries in the undertaking of public projects, in view of reducing poverty and extending the benefits of sustainable growth to all.
Points outside a production possibility curve indicate
Unattainable production levels
Attainable production levels
Inefficient, but attainable production levels
Optimum production levels
Correct answer is A
Point outside the production possibilities curve represents a combination of goods that is unattainable. This means an inefficient use of resources.
Gold, diamond, iron ore and limestone are collectively referred to as
Human resources
Mineral resources
Artificial resources
Forest resources
Correct answer is B
Mineral resources are the quantity of natural concentrations of solid, liquid, and gaseous material in or on the Earth's crust. They include silver, diamond, gold, iron, aluminum, zinc, copper etc.
Which of the following items is not included in measuring national income by the income approach?
Profits of companies
Rents on property
Student's grants and scholarships
Wages and salaries of public servants
Correct answer is C
National income using the income approach is calculated as; National Income = Rent + Wages + Interest + Profit + Mixed-Income.
Student's grants and scholarships are not included in the calculation of national income