Which one of the following is payment to owners of capital resources?
Rent
Wage
Interest
Profit
The situation in which available resources are not enough to produce everything that human beings need and want.
Abundant resource
Scarcity
Unlimited resource
Non-durable
The absence of markets or the limited operation of markets is the characteristics of
Mixed economy
Private sector
Centrally planned economy
Mixed economy relies on
Public sector
Public and private sector
Government enterprises
The method used to make resource allocation and output distribution decisions
Rationing
Resource ownership
Economic decision making
Central planning
Which model illustrates the concepts of scarcity, choice and opportunity cost?
Circular flow
Vicious circle of poverty
Production possibilities
Business cycle
Sustainable development
Economic growth
Economic development
Rural development
Those goods which help the production of other goods.
Economic goods
Consumer goods
Capital goods
Non-economic goods
A very simple model that illustrates a number of economic concepts and relationships
Business Cycle
Vicious Circle of Poverty
Circular Flow
Purchasing power parity
Which one of the following is a positive statement?
The unemployment rate should be lower.
The health care should be available free of charge.
Extreme poverty should be eradicated.
The unemployment rate is 5%
