The desire for a particular good or service supported by the possession of the necessary means of exchange to effect ownership is called:

Related MCQs

• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• When the demand for a good increases with an increase in income, such a good is called -
• Under flexible exchange rate system, the exchange rate is determined by -
• Whch of the following curve describes the variation of household expenditure on a particular good with respect to household income?
• Credit is the use or possession of goods without immediate payment. Which of the following is a type of credit?
• The reduction in the useful life of a capital good or consumer good through economic or technological change as distinct from physical deterioration in use is termed as:
• In Islam, absolute ownership of property lies only with:
• In economic theory, a tangible good or service resulting from the process of production is known as
• Two sellers only of a good or service in a market. This situation is:
• The theory of macroeconomics which holds that increases in the money supply are a necessary and sufficient condition for inflation, is called