Question : The fundamental economic problem is

Option 1: Decision-making

Option 2: Eradication of poverty

Option 3: The multiplicity of wants and scarcity of means

Option 4: Welfare of the people

Question : Economic problem is a problem of ________.

Option 1: Choice

Option 2: Scarcity

Option 3: Unlimited resources

Option 4: Alternative uses

Question : Society faces economic problems because of

Option 1: Abundance

Option 2: Scarcity

Option 3: Both scarcity and abundance

Option 4: Neither abundance nor scarcity.

Question : The central economic problem of every society is

Option 1: To maintain peace in the world.

Option 2: To prevent famine in rural areas

Option 3: The scarcity of economic resources

Option 4: Decentralization of power

Question : The decision-making unit of a buying organization is called its ____________ all the people and entities involved in the business decision-making process.

Option 1: Purchasing center

Option 2: Bidding center

Option 3: Buying center

Option 4: Demand-supply center

Question : Statement 1: Economic growth alone is sufficient to eradicate poverty.

Statement 2: Poverty eradication requires equitable distribution of resources and social development measures.

Option 1: Statement 1 is true, and Statement 2 is true.

Option 2: Statement 1 is true, but Statement 2 is false.

Option 3: Statement 1 is false, but Statement 2 is true.

Option 4: Statement 1 is false, and Statement 2 is false.