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NAME:____________________________________DEPT/COURSE____________________
a. demand
b. supply
c. production
d. both a and b
a. Demand
b. supply
c. production
d. wants
a. Economics
b. Social Science
c. Politics
d. supply and demand
9. this refers that people never get enough, that there is always
something else that they would like to have. When combined with
limited resources,unlimited wants result in the fundamental problem of
scarcity.
a. unlimited wants
b. wants
c. supply
d. goods
a.Economic Problems
b.Economic Goals
c.Communism
e. both b and c
a. mixed economy
b. Pure capitalism
c. modified Capitalism
d. Socialism
12. the human resource that combines the other resources to produce a
product, makes nonroutine decisions, innovates, and bears risks.
a. Entreprenuerial ability
b.Labor
c. Capital
d.none of the above
ENUMERATION
20.
21.
C. What are the rights of the Private Person in Capitalism?
22.
23.
24.
25.
26.
27.
28.
29.
PART III TRUE OR FALSE
_________31. Under the Capitalism the Government owns the basic and major
Industries
_________32. Under Communism the Government owns the basic and major
Industries
___________45. Supply and demand is the branch of social science that deals
with the production and distribution and consumption of goods and services
and their management.