Household is a _____________.
Producer
Consumer
Both 1 & 2
None of these
The household creates _______________or various products on the one hand and they also arrange supply of different factors of production on the other.
Product diversification
Economic growth
Economic policy
Demand
___________ are encouraged to diversify their productive activities.
Producers
Consumers
Households purchase different _____________ for their own consumption.
Consumer goods
Producer goods
The optimum utilization of ______________ is very important to achieve proper economic progress.
Factors of production
Economic resources
Duty and _________ policy has a very important effect on revenue,especially foreign exchange.
Monetary policy
Fiscal policy
Tariff policy
Price policy
The supply of various goods and services is possible in any country through the business activities or productive activities of the ____________.
Investor
Supplier
______________ means the demand of final goods.
Investment
Consumption
Distribution
Utility
The progress of economic development, the disparities in income and wealth also___________.
Increases
Decreases
Economic activities are concerned with producing goods and services which satisfy ______________.
Human wants
Choice
Scarcity