The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?

Related Mcqs:

A condition when there is excessive produce in the market which lowers down the price is called__________________?

A. Market glut B. Perfect market C. Imperfect market D. All of these...

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...

The absence of artificial barriers to trade among individuals and firms in different nations ?

A. Free trade B. Free economy C. Trade union D. None...

Sum total of currency in circulation plus commercial bank demand deposits and sometimes savings bank time deposits?

A. Money supply B. Money lender C. National income D. None...

Number of peoples and their level of skills is called as________________?

A. Human resources B. Physical resources C. Capital resources D. None...