A. Company
B. Factory
C. Firm
D. None
Related Mcqs:
- The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?
A. Technology
B. Advanced knowledge
C. Both
D. None - A market in which products households sell and firms buy resources or the services of resources is__________________?
A. Resource market
B. Product market
C. Consumer market
D. Producer market - Failure to use all available economic resources to produce goods and services is called__________________?
A. Unemployment
B. Underemployment
C. Inflation
D. Deflation - Technologies that by design produce less waste and use resources more efficiently ?
A. Clean technologies
B. Efficient technology
C. Productive technology
D. Innovative technology - The use of the resources of an individual or firm, a region, or a nation to produce one or a few goods and services ?
A. Specialization
B. speculation
C. Fly over
D. Capital flight - An organization of producers agreeing to limit the output of their product in an effort to raise prices and profit ?
A. Cartel
B. Capital account
C. Buffer stock
D. Capital account - Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
A. International Trade
B. Speculation
C. International specialization
D. None - The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?
A. Pure capitalism
B. Iaissez faire capital
C. Both
D. None - An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
A. Declining industry
B. Decreasing cost industry
C. Both
D. None - Employment available resources so that the maximum amount of goods and services is produced?
A. Large scale production
B. Full production
C. Fringe benefits
D. None
