The price paid for the use of services of labour per unit of time is called__________________?

Related Mcqs:

1. Failure to use all available economic resources to produce goods and services is called__________________?

   A. Unemployment
   B. Underemployment
   C. Inflation
   D. Deflation

2. The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?

   A. Trade block
   B. Trade union
   C. Trade offs
   D. All

3. A condition when there is excessive produce in the market which lowers down the price is called__________________?

   A. Market glut
   B. Perfect market
   C. Imperfect market
   D. All of these

4. The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?

   A. Trade surplus
   B. Trade deficit
   C. Trade bloc
   D. None

5. The amount by which a nation’s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?

   A. Trade surplus
   B. Trade deficit
   C. Trade off
   D. None

6. The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

   A. Trade Balance
   B. Trade deficit
   C. Trade surplus
   D. None

7. A ratio that shows the unit of capital required to produce a unit of output over a given period of time?

   A. Capital input ratio
   B. Capital output ratio
   C. Capital intensive ratio
   D. None

8. The households and the business firms of the economy are called__________________?

   A. Public sector
   B. Ptivate sector
   C. Govt sector
   D. None

9. Total consumption deducted from total income is called__________________?

   A. Net income
   B. Gross income
   C. Saving
   D. None of these

10. The part of economy which contains all govt. entities is called__________________?

    A. Public sector
    B. Private sector
    C. Public utility
    D. None