Basic Concepts of Economics MCQs – Chapter 2 DAE 10 min Score: 0 Attempted: 0/10 Subscribe 1. The power of a good or service by which it can satisfy human want is called……...? (A) Wealth (B) Utility (C) Usefulness (D) ValueShow All Answers 2. It is the income of a person during a specified period of time: (A) Net income (B) National income (C) Net-national income (D) Personal incomeShow All Answers 3. Savings depend upon………...? (A) Power to save (B) Willingness to save (C) Both a & b (D) None of theseShow All Answers 4. If in results is an increase of national assets: (A) Wealth (B) Investment (C) Saving (D) ValueShow All Answers 5. To get profit by investing in a business is called………? (A) National investment (B) Personal investment (C) Corporate investment (D) International investmentShow All Answers 6. If a government invests to increase the assets of a country is called….? (A) Corporate investment (B) Assets investment (C) International investment (D) National investmentShow All Answers 7. Investment means: (A) To purchase a running business (B) All (C) To start a new business (D) To spend for a welfareShow All Answers 8. A mobile phone or a car are the examples of ……………. wealth? (A) National (B) Individual (C) International (D) SocialShow All Answers 9. Elements/Factors of value include: (A) All (B) Utility (C) Transferability (D) ScarcityShow All Answers 10. The power of a commodity in exchange of which other commodities can be obtained is called: (A) Prestige (B) Utility (C) Value (D) PriceShow All Answers
