Whatever form an economic system may take, choice is esse...
Whatever form an economic system may take, choice is essential for members of the community because resources are_________
Scarce
Unlimited
Free
Many
Correct answer is A
The basic problem of every society in any type of economic system, be it capitalist, socialist and mixed economy is choice and scarcity because resources are limited.
In the process of production, total output is at maximum when ...
Being a member of the OPEC, Nigeria is in a favorable position to ...
Which of the following economic system is in operation in Nigeria? ...
If the marginal utility of good X exceeds that of good Y, this implies that ...
One of the factors affecting geographical distribution of population is ...
The money which government spends yearly for the maintenance of its school is ...
Government revenue will increase if tax is imposed on a good whose demand is ...
Cooperative societies are formed mainly to ...
In order to reduce hardship faced by consumers due to high prices government can introduce ...