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.Management Sciences
Category: Basic of Economics
A budgetary deficit means ?
A. Total expenditure is more than total revenue
B. Current expenditure is more than current revenue
C. Capital expenditure is more than capital revenue
D. Total expenditure is more than current revenue
Possibility of negative events or changes in the business climate of country is called?
A. Domestic risk
B. Political risk
C. National risk
D. Country risk
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
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