On which base structure of economic problems has been installed?

• Economic Activities related to Limited Resources

• Economic Activities related to alternative use of resources

• Both (a) and (b)

• None of these

Which of the following statement is true?

• Human wants are finite

• Resources are unlimited

• Scarcity problem gives birth to problem of choice

• All of these

Which of the following is the salient feature of factors (or resources) ?

• These are limited as compared to wants

• These have alternative uses

• Both (a) and (b)

• None of the above

Which of the following Is a type of economic activities ?

• Production

• Distribution

• Consumption

• All of these

Economy may be classified as:

• Capitalist

• Socialist

• Mixed

• All of these

Which economy has a co-existence of private and public sectors ?

• Capitalist

• Socialist

• Mixed

• None of these

The main objective of a socialist economy is…….

• Maximum production

• Economic freedom

• Earning profit

• Maximum public welfare

In which economy decisions are taken on the basis of price mechanism ?

• Socialist

• Capitalist

• Mixed

• All of these

The slope of a production possibility curve falls:

• From left to right

• From right to left

• From top to bottom

• From bottom to top

Production Possibility Curve is:

• Convex to the axis

• Parallel to the axis

• Concave to the axis

• Vertical to the axis