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.Management Sciences
Category: Agricultural economics
The part of economy which contains all govt. entities is called__________________?
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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
The increasing integration of national economies into expanding international market ?
A. Randomization
B. Globalization
C. Economic integration
D. None
The determination by the state, of what shall be produced and how factors of production shall be allocated among different uses ?
A. Circular flow model
B. Cognitive planning
C. Centralized planning
D. None
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