Global MCQ Practice

🌐 Total MCQ
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Applied Economics Quiz 71 (30 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Benefit from the establishments through revenues and taxes
2. A solid understanding of economic principlescan serve as significant tools to helpaddress the country's economic problem.
3. This refers to the requirements for a large production plants to a feasible operation in theindustry.
4. Which of the following would not be considered compliments?
5. Kinds of economic system where the decision are based on traditions and practices upheld over the years and passed to generation to generation
6. Ruby, manager in Stone Company, instruct her team in sales department to submit their project proposal as there are potential investors coming in two days. However, due to the limited time given to them, they come unprepared and the potential investors are not satisfied. What type of scarcity does sales department faced?
7. It refers to income less spending.
8. Which does not belong to the group?
9. A theory that uses marginal analysis because it assumes that people make decisions by weighing incremental benefits from expected additional costs, all measured from the realities of the production possibilities frontier.
10. Secret agreement among firms to sell at the same or similar prices.
11. Needs refers to anything a human being needs for their survival.
12. A line on a graph that illustrates an upward slope because of the direct relationship between price and quantity
13. It is the worth of a domestic money or currency in a foreign currency.
14. What do we call the minimum allowable price set above the equilibrium?
15. ELASTICITY is a measure of how much buyers and sellers respond to changes in market conditions.
16. Which of the following is not true?
17. It indicates that there is a constant relationship between two variables:when one variable changes, the other does not change.
18. Interest rates are the cost of using or borrowing money.
19. 8) Which is NOT a factor of production? a) land labor entrepreneurship skilb) laborc) entrepreneurship skild) skill
20. A "boom" period is economic growth-
21. Applied Economics is the study of observing how theories work in practice.
22. In Industry Analysis, what is meant by the term 'substitute'?
23. Steps in SEIA that focuses on gathering information about the socio-economic environment of the proposed development.
24. A shift in a demand or supply curve occurs when quantity demanded or supplied changes even though price remains the same.
25. How are goods and services exchanged in a traditional economy?
26. Highways, sanitation, schools, national defense, police, and fire protection are examples of .....
27. The owner of a new business can win the consumers away from the existing seller except;
28. The money withdrawn from the circular flow of economic activity is .....
29. What do we call the amount of a good that buyers purchase at a higher price?
30. Marketing consists of what?
🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books