The role of power in economic decision making is studied in________________?

Related Mcqs:

1. A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?

   A. Tradititional economics
   B. Development economics
   C. Political economics
   D. None

2. ______________assumes economic rationality and purely materialistic, individualistic, self interested orientation towards economic decision making?

   A. Traditional economy
   B. Political economy
   C. Capitalistic economy
   D. Open economy

3. 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

4. An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?

   A. Pure capitalism
   B. Command Economy
   C. Closed economy
   D. Open economy

5. “All LDC’s require to take off into a period of self-sustaining economic growth is a massive investment program designed to promote rapid industrialization and the building up of economic infrastructure.” ?

   A. Economic development theory
   B. Big Push theory of development
   C. Rostow’s development plan
   D. Harod Domes model

6. In________________ economics we look at desirability of certain aspects of the economy ?

   A. Theoretical
   B. Positive
   C. Normative
   D. None

7. The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?

   A. Generalization
   B. Specification
   C. Rationing function of the price
   D. None

8. An economic system in which traditions and customs determine how the economy would use its scare resources ?

   A. Traditional economy
   B. Mixed economy
   C. capitalistic economy
   D. Command economy

9. The total revenue of a film less all its economic costs is called_____________________?

   A. Economy Profit
   B. Pure Profit
   C. Above normal Profit
   D. All these

10. Meaningful statement about the economic behavior or the economy is called_______________________?

    A. Economic principle
    B. Economic theories
    C. Both
    D. None