1.
The following are the measure of central tendency except
2.
Career prospect in the study of economics means..............
3.
How does opportunity cost impact the decision-making process for firms?
4.
The reward of land is..................
5.
Which of the following is an example of opportunity cost for an individual?
6.
Which of the following is not true about labor as a factor of production?
7.
Which factor of production refers to the physical and mental efforts, skills, and abilities of individuals involved in production?
8.
Which of the following is an example of opportunity cost for the government?
9.
Which term refers to the amount of a product or service that is available to consumers?
10.
The study of Economics enables individuals to............
11.
Choice is necessary because resources _______
12.
Economics is best described as the study of
13.
The problem of making the right choice is resolved with the use of...........
14.
............... is subject to the law of diminishing returns
16.
In economics production is completed when
17.
Economics in its field of study is majorly concerned with................
18.
Which of the following is an example of opportunity cost for the government in terms of healthcare spending?
19.
The following are the basic economics tool except
20.
When the economic situation is viewed from the point of value judgment, economics is said to be..........
21.
What is the primary goal of production in the long run?
22.
What is the role of entrepreneurship in the economy?
23.
Unlike pure science, the generalized law in economics is majorly based on ..........
24.
Which of the following is an example of a renewable resource found on land?
25.
Why is understanding the concept of opportunity cost important in basic economic principles?
26.
Land is a factor of production because it
27.
Land is a factor of production because it
28.
The only factor of production that is a free gift of nature is.............
29.
Which of the following is NOT considered as a form of land?
30.
Which of the following is not a factor of production?
31.
Economics is often described as a science because it
32.
The measure of central tendency in which the sum of observations is divided by the number of observations is called.......
33.
Economic problem arises because
34.
Which of the following best describes labor as a factor of production?
35.
Which of the following situations represents a case of opportunity cost for an individual starting their own business?
36.
A data with figures randomly given without any sort of arrangement is called.............
37.
What distinguishes economics from natural sciences?
38.
The reward for entrepreneurship is :
39.
Which of the following is considered a basic economic problem of society?
40.
3. Which of the following describes economics as a science?
