A. Implicit cost
B. Explicit cost
C. Economic cost
D. Nominal cost
Related Mcqs:
- A debit which monitory value, an amount awed by a firm or an individual___________________?
A. Lockout
B. Logrolling
C. Liability
D. None - Any resource whose quantity can not be changed by a firm in the short run_______________?
A. Fixed resource
B. Variable resource
C. Available resource
D. Economic resource - An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
A. Tariff
B. Tax
C. Tacit collusion
D. Subsidy - The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
A. Value added
B. Value of money
C. Vertical range
D. None - A household’s or firm’s income in the form of goods or services ?
A. Extra income
B. Income in kind
C. Fixed income
D. None - Total money income received by the individual or recipients of income is called____________________?
A. Gross income
B. Net income
C. Personal income
D. None of above - Using part of income/saving for more income is called_________________?
A. Investment
B. Busyness
C. Consumption
D. Entrepreneurship - The study of how economies are transformed from stagnation to growth and from low income to higher income status?
A. Econometrics
B. Development economics
C. Development plan
D. All - Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
A. Saving
B. Disposable income
C. Net income
D. All - The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?
A. Elasticity of demand
B. Import substitution
C. Income elasticity of demand
D. None
