A. Circular flow model
B. Cognitive planning
C. Centralized planning
D. None
Related Mcqs:
- A process of production that uses a higher proportion of capital as compared to other factors of production ?
A. Capital intensive technique
B. Labour intensive technique
C. Both a and b
D. None of these - The principle that if one factor of production is fixed and constant addition of other factors are combined with it, the marginal productivity of variable factors will eventually decline ?
A. Marginal returns
B. Diminishing returns
C. Both
D. None - An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
A. Command economy
B. Closed economy
C. Open economy
D. None - The monitory income a firm sacrifices when it uses a resource it rosins rather than supplying the resource in the market ?
A. Implicit cost
B. Explicit cost
C. Economic cost
D. Nominal cost - 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 - All goods and services produced in a country in one year are called its__________________?
A. GNP
B. GDP
C. NDP
D. None of these - 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 - A market situation in which a product that does not have close substitutes is being produced and sold by a single seller?
A. Oligopoly
B. Monopoly
C. Perfect competition
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 absence of artificial barriers to trade among individuals and firms in different nations ?
A. Free trade
B. Free economy
C. Trade union
D. None
