An economic system in which traditions and customs determine how the economy would use its scare resources ?

Related Mcqs:

The monetary payment a firm must make to an outsider to obtain a resource____________________?

A. Implicit cost B. Explicit cost C. Net cost D. Total cost...

determinants of demand are some times referred as__________________________?

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

A type of unemployment caused by insufficient total spending___________________?

A. Under employment B. Underdevelopment C. Cyclical unemployment D. None...

The portion of economy consisting of Agriculture, Forestry, Hunting and Fishing ?

A. Agricultural sector B. Rural sector C. Farm economy D. All...

Monopoly and oligopoly are the examples of___________________?

A. Perfect competition B. Imperfect competition C. Pure competition D. None...