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 : Economizing of resources means __________

Option 1: making optimum use of the available resources

Option 2: making non-optimum use of the available resources

Option 3: making alternative use of the available resources

Option 4: None of the above

Question : Basic problem of the economy is

Option 1: scarcity of resources

Option 2: curb inflation

Option 3: reduce unemployment

Option 4: All of the above

Question : Economizing of resources refers to ___________________

Option 1: making optimum use of available resources

Option 2: making non-optimum use of available resources

Option 3: making umlimted wants

Option 4: None of the above

Question : Scarcity is _______.

Option 1: Universal

Option 2: Non-universal

Option 3: Both 1 and 2

Option 4: None of the above