Power of a good/ service to satisfy human desire/want is called____________________?

Related Mcqs:

1. The demand schedule or the demand curve of all buyers of a good or service is called____________________?

   A. Market demand B. Total demand C. Both D. None...

2. 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...

3. A measure of average output or real output per unit of input is called____________________?

   A. Efficiency B. Production C. Productivity D. None...

4. A market in which money of one nation can be used to purchase the money of other nation is called____________________?

   A. Money market B. International market C. Foreign exchange market D. All of these...

5. An institution or mechanism which brings together buyers and sellers is called____________________?

   A. Market B. Resource Market C. Product Market D. None...

6. Directing domestic resources to output which a nation is highly efficient at producing is called____________________?

   A. International Trade B. Speculation C. International specialization D. None...

7. 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...

8. A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?

   A. Tax B. Tariff C. Transfer payment D. Subsidy...

9. The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?

   A. Trade block B. Trade union C. Trade offs D. All...

10. Major financial institution responsible for issuing currency, managing foreign reserves implementing monetary policy and providing banking service to the govt. and commercial banks ?

    A. Central Bank B. State Bank C. Both D. None...