A. Adam Smith
B. Marshall
C. Robins
D. Marks
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Total money income received by the individual or recipients of income is called____________________?
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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. Gross income
B. Net income
C. Personal income
D. None of above
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Power of a good/ service to satisfy human desire/want is called____________________?
A. GDP
B. NNp
C. NDP
D. GNP
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The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
A. Utility
B. Worth
C. The point of satiety
D. All of these
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An increase either in real output (GDP) or in real output per capita is called___________________?
A. Dumping
B. Subsidy
C. Inflation
D. Monopoly
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Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
A. Economic development
B. Economic growth
C. Growth rate
D. Economic efficiency
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A condition when there is excessive produce in the market which lowers down the price is called__________________?
A. Economics of scale
B. Economics of mass production
C. Both of these
D. None of these
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Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called___________________?
A. Market glut
B. Perfect market
C. Imperfect market
D. All of these