A. Resource market
B. Product market
C. Consumer market
D. Producer market
Related Mcqs:
- A market in which products are sold by firms and bought by households is_________________?
A. Resource market
B. Product market
C. Consumer market
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 - The households and the business firms of the economy are called__________________?
A. Public sector
B. Ptivate sector
C. Govt sector
D. None - 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 - 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 - Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?
A. Economic efficiency
B. Productive efficiency
C. Allocative efficiency
D. All - The part of the urban economy of LDC’s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?
A. Formal sector
B. Informal sector
C. Formal finance
D. Informal finance - 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
