Problem on public sector
The word “public sector” signifies to: (1) Stockholders and households. (2) Investors and Consumers. (3) Households and investors. (4) Democratic voting systems. (5) All actions of government. Find out the right answer from the above options.
Buildings and capital tools can't produce anything without labor, showing such that labor is: (i) a productive resource. (ii) the merely productive resource. (iii) exploited through capitalists. (iv) the key to technology. (v) a provider of entreprene
When a firm could produce at least similar output with less of one resource and no additional of any other, mix of resources of the firm is technologically: (w) and economically efficient. (x) efficient, but economically inefficient. (y) inefficient, but economically
The idea that costs ultimately grow faster than output if output is expanded obeys logically from the law of: (i) Increasing expectations. (ii) Raising returns to scale. (iii) Diminishing returns. (iv) Demand and supply. (v) Rational effects. Q : Production in economically efficient Production based upon economically efficient mixtures of resources: (w) Maximizes production costs for a specified output. (x) Minimizes output from a specified cost. (y) Maximizes output or/and minimizes costs. (z) is unlikely since resources are unl
Production based upon economically efficient mixtures of resources: (w) Maximizes production costs for a specified output. (x) Minimizes output from a specified cost. (y) Maximizes output or/and minimizes costs. (z) is unlikely since resources are unl
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The principle which the simplest workable theory is also the fine is termed as: (i) positive analytics. (ii) minimalism. (iii) Occam's razor. (iv) simple-mindedness. (v) hypothesis testing. I need a good answer on the topic of
A statement which needs no value judgments would be which an optimal distribution of goods is: (w) invariably best for society. (x) better for society than any non-optimal distribution of goods. (y) better for society only when this conforms to the will of the majorit
Economics is generally explained as the study of how societies and individuals: (1) make options about work and the division of labor, (2) try to maximize their financial wealth and incomes, (3) answer the fundamental economic questions of "Why, Where, and When", (4)
All resources are encompassed through the classes of labor: (i) industrial robots, energy, and raw materials. (ii) capital, entrepreneurship, and knowledge. (iii) land, entrepreneurship and capital. (iv) entrepreneurship, investment and materials. (v)
A positive economic statement is one which: (w) involves scientifically testable predictions. (x) is based upon value judgments. (y) explains the world idealistically. (z) applies primarily to microeconomic data. H
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