[Solved] Seawater, fresh air, etc., are regarded in Economics as -

McqMate

Q.	Seawater, fresh air, etc., are regarded in Economics as -
A.	Giffen goods
B.	inferior goods
C.	free goods
D.	normal goods
Answer» C. free goods
Explanation: Free goods are what is needed by the society and is available without limits, The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society.

1k

0

Do you find this helpful?

1

View all MCQs in

Discussion

No comments yet

Related MCQs

Knowledge, technical skill, education etc. in economics, are regarded as -
Which British philosopher and economist is regarded as “founder of modern Economics”?
The terms "Micro Economics" and "Macro Economics" were coined by -
In the balance of payments account, unrequited receipts and payments are also regarded as -
In a business, raw materials, components, work in progress and finished goods are jointly regarded as -
The main reason why cheques can be regarded as money is that:
Which of the following is regarded as a liability by choosing banks?
Which of the following is referred to as international currency because it is regarded as acceptable for the settlement of international debts?
The Communist Manifesto appeared in 1848. It is regarded as a classic exposition of modern Communist views and it influenced all subsequent Communist literature. Karl Marx completed it alongwith
The basic problem studied in Macro - Economics is -