Productive efficiency means___________________?

A. Producing all output combinations in the least costly way
B. Producing the specific output mix most desired by society
C. Producing the desired ones only
D. None

An individuals demand curve is down sloping because_____________________?

A. Price and quantity demanded are inversely related
B. P & d are directly related
C. There is no relation bet p & d
D. None

Commodities whose demand varies directly with money income are called______________________?

A. Superior or normal goods
B. Complementary goods
C. Substitutes
D. None

Allocative efficiency is__________________?

A. Producing all output combinations in least costly way
B. Producing the specific output mix most desired by society
C. Producing the desired things
D. None

Upward shift of the demand curve is due to_________________?

A. Changing in quantity demanded
B. Increase in demand
C. Decrease in quantity demanded
D. None

When price for one and demand for other move in same direction we say them___________________?

A. Complementary
B. Substitutes
C. Supplementary
D. None

Change in quantity demanded is______________________?

A. Upward movement or shift of entire cure.
B. Shift of the demand curve to left side
C. Movement from one point to the other on the same demand curve
D. None

A supply curve shifts because of change in_____________________?

A. The price of the related products
B. Technology
C. Both a and b
D. None of these

The ability of Market forces to synchronize selling and buying decision to eliminate potential surpluses and shortages is known as_________________?

A. Generalization
B. Specification
C. Rationing function of the price
D. None

The total amount by the federal govt. of the owner of the govt. securities is called___________________?

A. Public debt
B. Public finance
C. Public good
D. None