Question : Economics is all about making choices in the presence of ________.

Option 1: Scarcity

Option 2: Unlimited resources

Option 3: Limited resources

Option 4: All of the above

Question : Scarcity and ______ go together.

Option 1: Choice

Option 2: Available resources

Option 3: Non-renewable resources

Option 4: All of the above

Question : Economic problem is a problem of ________.

Option 1: Choice

Option 2: Scarcity

Option 3: Unlimited resources

Option 4: Alternative uses

Question : Which of the following unemployment is the result of depression in an economy?

Option 1: Cyclical unemployment

Option 2: Frictional unemployment

Option 3: Seasonal unemployment

Option 4: Structural unemployment

Question : A recession is characterized by:

Option 1: High inflation and high unemployment
   

Option 2: Low inflation and high unemployment
 

Option 3: High inflation and low unemployment

Option 4: Low inflation and low unemployment