A. Producing all output combinations in the least costly way
B. Producing the specific output mix most desired by society
C. Producing the desired ones only
D. None
Related Mcqs:
- Productive investments embodied in human persons?
A. Fixed capital
B. Human capital
C. Both A and B
D. non of these - The study process by which a productive capacity of the economy is increased over time to bring about raising levels of national output and income?
A. Development
B. Economic growth
C. Economic integration
D. All - Allocative efficiency is__________________?
A. Producing all output combinations in least costly way
B. Producing the specific output mix most desired by society
C. Producing the desired things
D. None - Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?
A. Fiscal policy
B. Economic planning
C. Economizing problem
D. None - Total consumption deducted from total income is called__________________?
A. Net income
B. Gross income
C. Saving
D. None of these - A particular set of institutional arrangement and a coordinating mechanism is___________________?
A. Economic system
B. Fascism
C. Mixed system
D. None - Cooperation among unification of the economies of different nations is termed as_____________________?
A. Economic Bloc
B. Economic integration
C. Economic union
D. none - The total number of people living below a specified minimum level of real income, an international poverty line, is called ?
A. Relative poor
B. Real poverty
C. Absolute poor
D. None - Excess of total revenue over total costs_______________?
A. Producer surplus
B. Scarcity rent
C. Both
D. None - An agreement among sellers of a commodity to set a common price or share their commodity market?
A. Oligopoly
B. Monopoly
C. collusion
D. All
