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Applied Economics Quiz 91 (20 MCQs)

Quiz Instructions

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1. What is one of the contemporary issues faced by investors that is considered as the lifeblood of the economy?
2. Identify the correct determinant of supply. Example:If airlines expect prices for airline tickets to fall in September when families are less likely to travel due the school calendar, they will supply more during the summer months when they can charge higher fares.
3. What is Labor?
4. He coined the term "market equilibrium" .
5. He popularized the law of comparative advantage.
6. Individuals who come up with a new idea for a good or service, then they make it a reality
7. It is when a good is scarce compared to its demand.
8. Labor Market is where we buy consumers goods.
9. MACRO ECONOMICS studies the behavior of individual on dealing with scarce resources
10. Fundamental economic concept that describes the total amount of a specific good or service that is available to consumers
11. Which of the following has NOT observed in the community during the ECQ inthe same locality?
12. Which of the following is an example of external forces of a business?
13. This factor of production paid in the form of rent or lease.
14. Amount or quantity of a given goods or services producers are willing and able to provide at a given prices, at a given period of time.
15. With a budget of P 5 million, Saena' could construct a warehouse and a new woodworking machine for her furniture business or build a beautiful home for her family. What is the opportunity cost of constructing her family home?
16. Interest is the payment for the immediate use of funds.
17. .... is an application of conclusion from the different economic theories.
18. Given as; Qs=100+5P, What is the quantity supply at the given prices of 9.
19. It states that as the price of goods increases, quantity demandeddecreases.
20. It is the point where quantity demanded is equal to quantity supplied.
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