Civil Engineering MCQs

Page No. 68

What is considered as the standard unit which forms the basis of a country’s domestic money supply ?


aMonetary unit

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bCurrency

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cForeign exchange

✓


dCash or check

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View Answer Foreign exchange

What is defined as any tangible economic activity that contributes directly or indirectly to the satisfaction of human want ?


aServices

✓


bGoods

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cCommodities

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dGoods or commodities

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View Answer Services

What are the two classifications of goods and services ?


aLocal and imported

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bRaw and finished

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cConsumer and producer

✓


d Ready-made and made-to-order

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View Answer Consumer and producer

What is defined as any tangible economic product that contributes directly or indirectly to the satisfaction of human want ?


aServices

✖


bGoods

✖


cCommodities

✖


dGoods or commodities

✓


View Answer Goods or commodities

What refers to the goods and services that are required to support human life, needs and activities ?


aProducer products

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bConsumer products

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cLuxury

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dNecessity

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View Answer Necessity

What refers to the exchange mechanism that brings together the sellers and the buyers of a product, factor of production or financial security ?


aMall

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bMarket

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cStore

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dOffice

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View Answer Market

What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied ?


aProducer products

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bConsumer products

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cLuxury

✖


dNecessity

✓


View Answer Necessity

What is considered as the basic consuming or demanding unit of a commodity ?


aSeller

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bManufacturer

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cProducer

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dBuyer or consumer

✓


View Answer Buyer or consumer

What is a market situation whereby there is only one buyer of an item for which there is no goods substitute ?


aMonopsony

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bMonopoly

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cOligopoly

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dOligopsony

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View Answer Monopsony

What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration ?


aSeller

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bManufacturer

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cProducer

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dBuyer or consumer

✓


View Answer Buyer or consumer

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