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Agricultural Economics-Data Intensity 2 Multiple Questions and Answers.
| 6. | Failure to use all available economic resources to produce goods and services is called_____? | ||
| A. | Unemployment | ||
| B. | Underemployment | ||
| C. | Inflation | ||
| D. | Deflation | ||
| 7. | The price paid for the use of services of labour per unit of time is called____? | ||
| A. | Salary | ||
| B. | Income | ||
| C. | Wage | ||
| D. | All of above | ||
| 8. | A market in which products households sell and firms buy resources or the services of resources is____? | ||
| A. | Resource market | ||
| B. | Product market | ||
| C. | Consumer market | ||
| D. | Producer market | ||
| 9. | A measure of average output or real output per unit of input is called____? | ||
| A. | Efficiency | ||
| B. | Production | ||
| C. | Productivity | ||
| D. | None of above | ||
| 10. | The households and the business firms of the economy are called____? | ||
| A. | Public sector | ||
| B. | Ptivate sector | ||
| C. | Govt sector | ||
| D. | None of above | ||
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