Failure to use all available economic resources to produce goods and services is called__________________?
Correct answer: C. Unemployment
- A. Inflation
- B. Underemployment
- C. Unemployment
- D. Deflation
Explanation
Unemployment means that available labour resources are not being used to produce goods and services. Underemployment refers more specifically to workers being employed below their capacity or for fewer hours than they desire.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
Practise Agricultural Economics and Extension
190 free Agricultural Economics and Extension MCQs from Agriculture, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Agriculture questions like this
Agriculture is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
More Agricultural Economics and Extension questions
The price paid for the use of services of labour per unit of time is called__________________?
A market in which products households sell and firms buy resources or the services of resources is__________________?
A measure of average output or real output per unit of input is called____________________?
An economic system in which traditions and customs determine how the economy would use its scare resources ?
The amount by which a nation's import of goods (or goods and services) exceeds its export of goods or goods and services is________________?
The body of knowledge and techniques which can be used to produce goods and service from economic resources is________________?