The progress of economic development, the disparities in income and wealth also _____________.
Increases
Decreases
Both 1 & 2
None of these
The basic functions of an economy are production,consumption and ____________.
Investment
Human wants
Alternative use of resources
Economic transactions between the consumers and the producers allows _____________ in an economy.
Increase
Decrease
The government must make proper arrangements for technical training, ____________,innovating new techniques of production and improving the quality of the products.
Industrial research
Creating employment
Production of consumer goods
Market for consumer goods
Economic activities are concerned with producing goods and services which satisfy ______________.
Human Wants
Choice
Scarcity
The____________ has very significant and long lasting effects on the socio-economic condition of the country.
Monetary policy
Fiscal policy
Price policy
Tariff policy
The organizational modifications can be accomplished only by the ___________.
Private sector
Public sector
Government
____________ means the capacity to satisfy human wants.
Production
Consumption
Utility