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Business Economics Quiz 41 (25 MCQs)

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1. Suppose a type of product price6% increases, resulting in the demand for that product to be reduced by 6%, the flexibility of the demand for the price of the said product is equal.
2. When you walk a neighbor's dog for pay, you are _____
3. Which factor does not affect the demand for labour?
4. Emotions, memory are the types of _____ factor of consumer buying behavior
5. Economic Company LimitedManufacture of products with an average cost of 400 baht, an average income of 300 baht and the average variable cost of 150 baht. Which company is in the following situation?
6. What is an Economy?
7. A service is_____
8. Which of the following pricing strategies best describes price lining?
9. Which of the following is an example of a need?
10. Odd-even pricing falls under the category of which of the following?
11. The distinction between variable cost and fixed cost is relevant only in
12. Which of the following terms refers to the amount paid for an existing business beyond the value of its other assets?
13. Who gave welfare definition of economics
14. What does the scarcity of resource implies _____
15. Define-interest rates are defined as the
16. .... refers to the quantity of a good or service that producers are willing and able to sell during a certain period under a given set of conditions
17. _____ is the benefit or satisfaction gained from the use of a good or service.
18. At what point does total utility starts diminishing?
19. Pigou was an ardent supporter of
20. Economics is a study of mankind in a ordinary business of life-it's the statement of
21. When production increases fixed costs does what?
22. Of the four factors of production, which of these are not a factor of production?
23. Selling cost have to be incurred in case of
24. Which of the following is not the feature of capitalist economy:
25. Ricardian theory measures comparative cost in terms of
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