The Scarcity definition of Economics is the contribution of:
A) Samuelson
B) Adam Smith
C) Lionel Robbins
D) Marshall
Correct Answer:
Verified
Q3: Which one of the following is an
Q4: The addition to the total revenue by
Q5: Which cost is to be incurred by
Q6: The marginal utility theory is contributed by:
A)Marshall
B)David
Q7: The factor earning of entrepreneur is:
A)Rent
B)Wage
C)Interest
D)Profit
Q9: Average Revenue is equal to:
A)Price
B)Cost
C)Profit
D)None of these
Q10: Total Revenue is the maximum when Marginal
Q11: Market economy is also known as:
A)Socialist economy
B)Capitalist
Q12: For complementary goods, the cross elasticity of
Q13: The demand curve for Giffen's goods:
A)Vertical
B)Horizontal
C)Negative slope
D)Positive
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