A. Economic efficiency
B. Productive efficiency
C. Allocative efficiency
D. All
Related Mcqs:
- 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 - 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 - 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 - A term used by ILO to describe the basic goods and services necessary for a minimum standard of living ?
A. Basic needs
B. Poverty line
C. Gini co-efficient
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 - 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 - 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 - A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
A. Income schedule
B. Saving schedule
C. Consumption schedule
D. None - 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
