Economics MCQs

Page No. 67

Specialized division of labor in industrial societies can make workers feel that they_______________?


ahave lack of control


b have no sense of accomplishment


c are an anonymous group


dall of the above


View Answer all of the above

Efficiency in economic terminology means________________?


ausing existing technology


b obtaining the highest output in the least amount of time


c ignoring the time factor


d making do with as few workers as possible



Which economic orientations govern Western industrial societies ?


aTradition


bCommand


cFree Market


d BOTH market and command



The main problem facing societies with a surplus is_____________________?


ahow to get rid of it


bwhat to produce how produce it and for whom to produce it


c there is no problem it is divided equally


d how to keep it away from enemies



The numbers of PACs ?


a doubled since 1974


btripled since 1074


cquadrupled since 1974


dincreased nearly sevenfold since 1974



The foremost advantage of a corporation is its_____________?


aability to accumulate vast amounts of capital in a short time


bcapacity for protracted periods of employment


c ability to profit from the labor of its employees


dnecessity to exhibit the latest technology



In most societies ownership of property takes one of three forms________________?


a restricted guarded and private


besthetic visible tangible


c communal private public


dambiguous hermetic contraceptive



Land labor capital and entrepreneurship are called__________________?


araw materials


bimpetus to upward mobility


c factors of production


d external devices



Each society must make the following decisions of an economic nature regarding the______________?


a time place and quantity of production


bassessment collection and counting of taxes


c measurement of land water and minerals


dproduction distribution and consumption of goods and services



Which resources are scarce in every society ?


a Fertile land


bWheat and com


c Food shelter and protective coverings


dSufficient males to mate with all the females



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