A. Unemployment
B. Failure to achieve productive efficiency
C. Both A. and B.
D. None of these
Correct Answer: C. Both A. and B. ✔
Last Updated: March 28, 2019
Related MCQs
- Directing domestic resources to output which a nation is highly efficient at producing is called__________?
- Opportunity cost is illustrated by the__________?
- The amount by which a nation’s export of goods (or goods and services) exceeds its import of goods or goods and services is__________?
- The activity of buying or selling with the motive of later reselling or re buying for profit is called ?
- All points on the production possibility curve explain__________?
- In__________ economics we look at desirability of certain aspects of the economy ?
- Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its__________?
- Production possibility curve is always concave because ?
- In __________ we avoid value judgments and focus on facts?
- A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________?
- Meaningful statement about the economic behavior or the economy is called__________?
- An analytic approach in which we move from facts to theory, from a particular to general is called__________?
- A compensation device through which workers receive part of their pay in the form of share of their employer’s profit__________?
- A minimum price which govt. allows seller to receive for a good or service__________?
- A market in which products are sold by firms and bought by households is__________?
- An institution or mechanism which brings together buyers and sellers is called__________?
- The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product__________?
- The percentage of labour force unemployment at any time__________?
- 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__________?
- The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________?
- An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
- An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities__________?
- A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?
- Legally established maximum price of a good or service__________?
- A market in which money of one nation can be used to purchase the money of other nation is called__________?
- An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called__________?
- The monetary payment a firm must make to an outsider to obtain a resource__________?
- To charge different prices for the goods of the same standard is called__________?
- The total revenue of a film less all its economic costs is called__________?
- An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
- Total consumption deducted from total income is called__________?
- Using part of income/saving for more income is called__________?
- All goods and services produced in a country in one year are called its__________?
- “Wealth of nations” was written by__________?
- An analytic approach in which we move from general to particular from theory to facts is__________?
- The process of deriving principles is called__________?
- The households and the business firms of the economy are called__________?
- A measure of average output or real output per unit of input is called__________?
- A market in which products households sell and firms buy resources or the services of resources is__________?
- The price paid for the use of services of labour per unit of time is called__________?
- Failure to use all available economic resources to produce goods and services is called__________?
- An economic system in which traditions and customs determine how the economy would use its scare resources ?
- The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is__________?
- The body of knowledge and techniques which can be used to produce goods and service from economic resources is__________?
- A tax imposed by a nation on an imported good is called__________?
- Nominal income adjusted for inflation__________?
- The branch of economics which analyze govt. revenues and expenditures is__________?
- A legally determined price above the equilibrium price is__________?
- The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is__________?
- Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called__________?
- A condition when there is excessive produce in the market which lowers down the price is called__________?