ECON M1.docx - Question 1 Correct Mark 5.00 out of 5.00...

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Question 1 Correct Mark 5.00 out of 5.00 Flag question Question text Direction : Choose the correct answer for each question below. The function of the entrepreneur or risk-taker - as one who faces the uncertainties of production in anticipation of demand was early established as the fundamental distinction between ________ and residual incomes. Answer 1 In Marshall, there is plenty of reference to the positive activities of ___________ in the continental sense, leadership is one of Marshall's words. Answer 2 F. A. Walker's treatment of profit as the rent of a special kind of_______, while J. B. Clark’s conception of profit as a dynamic surplus. Answer 3 __________ who in many ways is to be regarded as the popularize of Smith, thought of two kinds of income. Answer 4 Cantillon divides the active members of society into two groups, those whose incomes are fixed by ________ and those whose incomes are in the nature of a residue. Contractual Entrepreneurship Ability J.B. Say
Question 2 Correct Mark 1.00 out of 1.00 Flag question Question text Direction : Choose the best answer for each question provided below.
It is based on the notion that knowledge and ideas are the key factor of prosperity and economic growth Know ledge-economy
He argued for a positive effect of economic globalization based on free trade, and demonstrated that the free trade helped to enhance the human well-being.
This is a political system that turns out to be more conflict- ridden than democratic counterparts and they lower the quality of life.
This has been conceived as a multi-dimensional process involving economic as well as social and environmental changes.
It is a cause of conflict in developing countries which in particular experience during the transition period from underdeveloped to modern societies in the course economic development.
This model economy must save a certain proportions of its national income, if only to replace worn-out or impaired capital goods (buildings, equipment, and materials) for the economic growth. Grow th
This implies opening domestic markets to foreign competition in exchange for market access in other countries.
Question 3 Correct Mark 5.00 out of 5.00 Flag question Question text Direction : Choose the correct answer for each question below.

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