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Applied Economics Quiz 88 (20 MCQs)

Quiz Instructions

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1. The relationship between exchange rate and supply for currency is
2. The absolute value of the coefficient of elasticity is greater than 1.
3. It is refers to the extraction or drawing out goods from the natural resources like land, water air etc. and creation of utilities in them.
4. Refers to economics which embodies the ideal rate of population growth or themost effective tax system or in other words "what should be" .
5. This typically means price wars, ad campaigns playing on weaknesses, and product launches that focus on new features or overall quality.
6. Diminishing return tells the manager or entrepreneur that there is a need for additional unit of production.
7. Surplus could be solved by:
8. Which of the following is not a contemporary issues affecting the Filipino entrepreneurs?
9. Changing regulatory environment is an example of .....
10. This is a type of good that if a certain good increase its price, another good decreases its demand.
11. These are examples of human wants except:
12. It can influence the purchasing decisions in other factors.
13. Inelastic Price Change and Total Revenue Total revenue moves in what direction of a price change when consumers react weakly or inelastically?
14. It is under the service sector.
15. Firms use marketing to
16. At a given price, the amount by which quantity demanded exceeds quantity supplied; it usually forces the price up.
17. In which market structure is there the LEAST competition?
18. In this market structure, wherein only few firms dominates the market and also sells homogeneous products
19. Where do Economics and Sociology share common ground?
20. The higher the cost of a house
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