A. Generalization
B. Specification
C. Rationing function of the price
D. None
Agricultural economics
The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
A. Dumping
B. Subsidy
C. Inflation
D. Monopoly
The part of economy which contains all govt. entities is called__________________?
A. Public sector
B. Private sector
C. Public utility
D. None
A market in which products are sold by firms and bought by households is_________________?
A. Resource market
B. Product market
C. Consumer market
D. None
Excess of total revenue over total costs_______________?
A. Producer surplus
B. Scarcity rent
C. Both
D. None
Transfer of funds to a foreign country by a local citizen by business ?
A. Dumping
B. Anti dumping
C. Capital flight
D. Brain
Meaningful statement about the economic behavior or the economy is called_______________________?
A. Economic principle
B. Economic theories
C. Both
D. None
A simplified picture of economic reality, an abstract generalization ?
A. Economic theory
B. Economic principle
C. Economic model
D. None
Increase in the price level at a rate greater than expected ?
A. Dearness
B. Deflation
C. Stagflation
D. Unanticipated
An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
A. Increasing cost industry
B. Decreasing cost industry
C. Declining industry
D. None of these
