The amount by which a nation’s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?

A. Trade surplus
B. Trade deficit
C. Trade off
D. None

Opportunity cost is illustrated by the___________________?

A. Steep slope
B. Downward slope
C. Positive slope
D. None

Directing domestic resources to output which a nation is highly efficient at producing is called____________________?

A. International trade
B. Speculation
C. International specialization
D. None

Any point inside the production possibility curve represents ?

A. Unemployment
B. Failure to achieve productive efficiency
C. Both a. and b.
D. None of these

A particular set of institutional arrangement and a coordinating mechanism is___________________?

A. Economic system
B. Fascism
C. Mixed system
D. None

The private ownership of resources and use of a system of market and prices to coordinate and direct economic activity________________?

A. Pure capitalism
B. Iaissez faire capital
C. Both
D. None

Hitler introduced ?

A. Command economy
B. Traditional economy
C. Mixed economy
D. Authoritarian economy

__________________provides an overview of the operation of the capitalist system ?

A. Indifference curve
B. Income budget line
C. Circular flow model
D. Says law

determinants of demand are some times referred as__________________________?

A. Demand effectors
B. Demand determinants
C. Demand shifters
D. None

A good used together with another good is___________________?

A. Superior good
B. Normal good
C. Complementary good
D. None