Opportunity cost is illustrated by the___________________?

Related Mcqs:

1. Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?

   A. Economics of scale
   B. Economics of mass production
   C. Both of these
   D. None of these

2. A tax levied on the cost of a board group of products______________________?

   A. Income tax
   B. Sales tax
   C. Consumer charge
   D. None

3. A benefit or cost from production or consumption accruing without compensation to non buyers and non/sellers of the product is called_________________?

   A. Speculation
   B. Specialization
   C. Spill over
   D. anti dumping

4. Total consumption deducted from total income is called__________________?

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

5. Hitler introduced ?

   A. Command economy
   B. Traditional economy
   C. Mixed economy
   D. Authoritarian economy

6. A simplified picture of economic reality, an abstract generalization ?

   A. Economic theory
   B. Economic principle
   C. Economic model
   D. None

7. A measure of the real purchasing power of the community ?

   A. Aggregate demand
   B. Total effective demand
   C. Total expenditure
   D. All

8. Index measuring deprivation in basic human development in a country ?

   A. Human deprivation index
   B. Human poverty index
   C. Human development index
   D. None

9. The role of power in economic decision making is studied in________________?

   A. Development economics
   B. Traditional economics
   C. Political economics
   D. None of these

10. An economic plan that sets targets to cover all the major sectors of the national economy?

    A. Centralized plan
    B. Comprehensive plan
    C. Commune
    D. None