The surplus of production over consumption is called
Capital formation
Investment
Current transfer
Production
_______ means addition to the existing production capacities.
Consumption
Distribution
A __________ is a paper in instructing the bank to pay a specific amount from a person's account.
Loan
Demand deposit
Cheque
Currency
'Money is what it does' is defined by
Crowther
Walker
Robertson
Keynes
_____ is the unit of account and a standard of common measurement.
Medium of exchange
Measure of value
Store of value
Standard of deferred payment
Basic economic activities are
Inflation and deflation
Unemployment, poverty and inequality
Production, consumption and accumulation
The word 'money' is derived from
Latin
Greek
French
Roman
Which of the following is not true regarding the in convenience of Barter Exchange?
Lacks of double coincidence of want
Absence of divisibility
Difficulty in storing wealth
Availability of money as a medium of exchange
Domestic services rendered by hired servants are a part of
Own account production of households
Consumption of hired servants
When two goods between two persons at a time are exchanged without the use of money , it is called
Credit
Barter system
Demand
