A compensation device through which workers receive part of their pay in the form of share of their employer’s profit___________________?

A. Labour laws
B. Labour saving scheme
C. Profit sharing plan
D. Profit maximizing plan

An analytic approach in which we move from facts to theory, from a particular to general is called____________________?

A. Induction
B. Deduction
C. Generalization
D. Randomization

Meaningful statement about the economic behavior or the economy is called_______________________?

A. Economic principle
B. Economic theories
C. Both
D. None

A film on economics in which economists study and observe the details of an economic unit or a very small judgment of economy is__________________?

A. Macroeconomic
B. Micro economic
C. Positive economic
D. Normative economic

In ___________________ we avoid value judgments and focus on facts?

A. Positive economics
B. Normative economics
C. Theoretical economics
D. Factual economics

Production possibility curve is always concave because ?

A. The curve gets steeper as we move downward
B. The marginal benefit decreases as more of a good is consumed
C. In reflects the law of increasing opportunity cost
D. Resources are scarce

Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?

A. Opportunity cost
B. Real cost
C. Economic cost
D. None

In________________ economics we look at desirability of certain aspects of the economy ?

A. Theoretical
B. Positive
C. Normative
D. None

All points on the production possibility curve explain__________________?

A. Allocative efficiency
B. Productive efficiency
C. Less than full use of resources
D. Unattainable levels of output

The activity of buying or selling with the motive of later reselling or re buying for profit is called ?

A. Spillover
B. Speculation
C. Specializing
D. All