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