Consumer is sovereign under:

____________ is a system by which people of an area earn their living.

Choice is the outcome of:

The government does not interfere in the process of decision making under:

Who controls the economic activities under centrally planned economies?

Which of the following is an example of an economic activity?

A normative statements offer suggestions or opinions.

Positive statements are the statement of truth.

Economic problem and scarcity are not related to each other.

Lack of scarcity implies lack of economic problem.

Problem of resource allocation would not arise if resources had no alternative use.

Normative economics deals with:

A statement which does not offer any suggestion is known as:

Scarcity of resource exists:

Resource for satisfying human wants are:

Economic Problem arising out of the fact that:

In which of the following situations, does scarcity arise?

Study of economics as a whole is called:

In _______ economy, private sector dominates the economic activity.

Resources have ___________ characteristics.

Scarce means are called wealth.

Scarcity exist even when certain goods are available at zero cost.

Virat Kohli is a good batsman as he has scored highest number of centuries in test cricket. what kind of statement is it?

"Working citizens should not pay for hospital care." what kind of statement is it?