A. Trade block
B. Trade union
C. Trade offs
D. All
Related Mcqs:
- Failure to use all available economic resources to produce goods and services is called__________________?
A. Unemployment
B. Underemployment
C. Inflation
D. Deflation - 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 price paid for the use of services of labour per unit of time is called__________________?
A. Salary
B. Income
C. Wage
D. All - A bank which lends to developing nations to help them increase their capital stock and this achieve economic growth ?
A. IMF
B. Islamic Bank
C. Commercial bank
D. None - 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 - 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 - 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 - 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 - 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 - ______________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
