Employment available resources so that the maximum amount of goods and services is produced?

Related Mcqs:

1. 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...

2. 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...

3. 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...

4. 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...

5. Failure to use all available economic resources to produce goods and services is called__________________?

   A. Unemployment B. Underemployment C. Inflation D. Deflation...

6. 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...

7. Obtaining the socially optimal amounts of goods and services using minimum necessary resources ?

   A. Economic efficiency B. Productive efficiency C. Allocative efficiency D. All...

8. All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?

   A. GDP B. NNp C. NDP D. GNP...

9. All goods and services produced in a country in one year are called its__________________?

   A. GNP B. GDP C. NDP D. None of these...

10. The total amount buyers of goods and services sped or plan to spend____________________?

    A. Total spending B. Aggregate spending C. Both a and b D. None...