{"id":53009,"date":"2024-04-15T23:47:44","date_gmt":"2024-04-15T23:47:44","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53009"},"modified":"2024-04-15T23:47:44","modified_gmt":"2024-04-15T23:47:44","slug":"economic-goods-are","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/economic-goods-are\/","title":{"rendered":"Economic goods are"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Commodities that is available according to their demand&#8221; option2=&#8221;Commodities that is available more as compared to demand&#8221; option3=&#8221;all commodities that are limited in quantity as compared to their demand&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is C.<\/p>\n<p>Economic goods are all commodities that are limited in quantity as compared to their demand. This means that there is not enough of the good to satisfy everyone who wants it. As a result, people have to make choices about how they will allocate their limited resources to acquire the goods they want.<\/p>\n<p>Option A is incorrect because it refers to commodities that are available according to their demand. This would mean that there is always enough of the good to satisfy everyone who wants it. However, this is not the case for most goods, as they are limited in quantity.<\/p>\n<p>Option B is incorrect because it refers to commodities that are available more as compared to demand. This would mean that there is more of the good than people want. However, this is not the case for most goods, as they are limited in quantity.<\/p>\n<p>Option D is incorrect because it is not a valid option.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Commodities that is available according to their demand&#8221; option2=&#8221;Commodities that is available more as compared to demand&#8221; option3=&#8221;all commodities that are limited in quantity as compared to their demand&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[957],"tags":[],"class_list":["post-53009","post","type-post","status-publish","format-standard","hentry","category-basic-general-knowledge","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economic goods are<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/economic-goods-are\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic goods are\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Commodities that is available according to their demand&#8221; option2=&#8221;Commodities that is available more as compared to demand&#8221; option3=&#8221;all commodities that are limited in quantity as compared to their demand&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option3&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/economic-goods-are\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T23:47:44+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Economic goods are","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/economic-goods-are\/","og_locale":"en_US","og_type":"article","og_title":"Economic goods are","og_description":"[amp_mcq option1=&#8221;Commodities that is available according to their demand&#8221; 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