It is a system in which people produce simple goods in limited numbers or quantities for the satisfaction of their wants.
Simple economy
Complex economy
Open economy
Closed economy
Marshall's Definition is called
Welfare Oriented definition
Wealth Oriented Definition
Scarcity Oriented Definition
Growth Oriented Definition
It is an economy in which country has true relation with other countries and believes interdependence on each other.
Simple Economy
complex economy
The definition given by Robbins has taken an entirely static view of the
Scarcity Problem
Distribution
Problem of choice
Causes of wealth
The supply of various goods and services is possible in any country through the business activities or productive activities of the
Investor
Supplier
Consumer
Producer
The organizational modifications can be accomplished only by the
Private sector
Public sector
Government
None of these
Economic transactions between the consumers and the producers allows _____________in an economy.
Increase
Decrease
Both A & B
Constant
The main and the fundamental aim of Economics is to promote
Wealth
Human Welfare
Economic Welfare
Production