Economics Past Questions and Answers

A carpenter's consumer goods includes 1. a kilogram of rice II. 3 pairs of shoes III. 4 pairs of socks IV. 3 screw drivers

In a capitalist system, the means of production is owned and controlled by

Mixed economy refers to a system in which the means of production are controlled by

An economic goods is described as a good which

The concept of opportunity cost is important to the firm because it