The basic functions of an economy are production,consumption and
Investment
Human wants
Alternative use of resources
All the above
The important feature in Marshall's welfare definition of economics is
Social Science
Scarcity of Means
Efficient Allocation of Resources
Society
Agricultural productivity can be improved through
Factors of production
Income opportunities
Organising business activities
Industrialization
The organizational modifications can be accomplished only by the
Private sector
Public sector
Government
None of these
It creates the demand for various commodities.
Consumers
Producers
Investors
Robbin's Definition is called
Scarcity Oriented Definition
Wealth Oriented Definition
Growth Oriented Definition
Welfare Oriented Definition
The definition given by Robbins has taken an entirely static view of the
Scarcity Problem
Distribution
Problem of choice
Causes of wealth
In the absence of a ________,the private businessmen and entrepreneurs have a tendency to exploit common masses and to earn more profits.
Monetary Policy
Fiscal Policy
Tariff Policy
Price Policy
It is an economy in which country has true relation with other countries and believes interdependence on each other.
Open economy
Closed economy
Simple Economy
complex economy