Quiz # 19



#1 ‘Hire and Fire’ is the policy of-

Short Essay on Hire and Fire – Where an employer hires employees on temporary basis with an understanding that there is no job security in such employment, meaning whereby that the people so employed can be dismissed at the drop of a hat, the arrangement is known as the policy of ‘hire and fire‘ in general parlance.

#2 The Economic development depends on-

The efficient utilization or exploitation of natural resources depends on the skills and abilities of human resource, technology used and availability of funds. A country having skilled and educated workforce with rich natural resources takes the economy on the growth path.

#3 Which of the following is a part of tertiary sector?

Tertiary sector is also called as the Service Sector. It provides services to the primary and secondary sectorsThese services include banking , transport , communication , storage facility for goods. So we can also consider the Tertiary sector as the Backbone of primary and secondary sectors .

#4 What are the main components of basic social infrastructure of an economy?

#5 A closed economy is one which-

A closed economy is one that has no trade activity with outside economiesThe closed economy is self-sufficient, which means no imports come into the country and no exports leave the country. The purpose of a closed economy is to provide domestic consumers with everything they need from within the country’s borders.

September 21, 2019

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