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.Management Sciences
Category: Basic of Economics
From each according to his ability to each according to his need is the theoretical slogan of ?
A. Feudal System
B. Capitalist System
C. Fascist System
D. Communist System
Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade
What does price elasticity of demand measure ?
A. Changes in price caused by changes in demand
B. The rate of change of sales
C. The responsiveness of demand to price changes
D. The value of sales at a given price
Which of the following is regarded as a factor of production ?
A. Capital
B. Interest
C. Profit
D. None of these
Which economics term describes the takeover of one textile manufactures by another ?
A. Diversification
B. horizontal integration
C. monopoly
D. vertical integration
What is called that executive who is brought in to turn a company around and make it profitable ?
A. Savior
B. Company doctor
C. Super manager
D. Manager doctor
Termed the written statement which expresses the intention of undersigned to enter into a formal agreement ?
A. Letter of intent
B. Letter of Credit
C. Letter of Expression
D. Papers of Landing
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