Transformation of Inputs into Outputs Is Known as

Q13: Which one of the following is an

Q14: The resources are :<br>A)limited<br>B)unlimited<br>C)not only limited but

Q15: The economic problem arises since<br>A)wants are unlimited<br>B)resources

Q16: The functional relationship between inputs and outputs

Q17: The term production refers to:<br>A)producing things which

Q18: Partial equilibrium analysis come under:<br>A)micro economics<br>B)macro economics<br>C)welfare

Q19: The major objective of a firm is<br>A)profit

Q20: The distribution of national product among the

Q21: ----- is not an example of free

Q23: Production and consumption takes place simultaneously in