A Free Market economy solves its Central Problems through __________.

A capitalist economy is by and large __________.

Which one is not the characteristic of capitalistic economy?

Capitalistic Economy uses as principal means of allocating resources.

Which one of the following is not true about capitalist economy?

Accounting Costs are also called as ________ costs whereas the cost of factors owned by the entrepreneur himself and employed in his own busi-ness is called as costs.

Outlay Costs involve ________ expenditure of funds on wages, mate-rial, returns interest, etc.

Outlay costs involve ________ expenditure at some point of time and hence ________ recorded in the books of account.

Opportunity cost is:

The cost of one thing in terms of alternative given up is known as:

_________ is the severe form of _________.

The great depression of _________ is still cited for the enormous misery and human sufferings it caused.

Which of the following statement is False?

Industries that are extremely sensitive to the business cycle are the _________.

Which of the following is not the characteristic of MR?

MR Curve in perfect competition is __________.

In perfect Competition when the firm is a price taker, which curve among the following will be a straight line?

The firm in a perfectly competitive market is a price taker. This designation as a price taker is based on the assumption that:

Which of the following is incorrect?

An increase in price will result in an increase in total revenue if: