Economics Mcqs

A. employ many young or untrained workers
B. are competing with well-established overseas firms
C. are not yet large enough to achieve economies of scale
D. use a new technology

A. a quota
B. dumg
C. a tariff
D. an export subsidy

A. technological change
B. competitions with foreign suppliers
C. development of tourism
D. lower tariffs

A. resource; resource
B. foreign exchange money
C. opportunity; opportunity
D. money; opportunity

A. The industrial policies of governments
B. different sizes of the countries
C. different factor endowment between countries
D. the different tastes and preferences of people in different countries

A. services and white-collar jobs
B. manufacturing and blue-collar jobs
C. natural resource extraction and mining jobs
D. agriculture and farming jobs

A. Import-competing industries
B. Industries that are only exporters
C. Industries that sell domestically as well as export
D. industries that neither import nor export

A. Imported, but not exported
B. Exported, but not imported
C. Imported and exported
D. Neither exported nor imported

A. Increase all domestic costs and prices
B. Keep all domestic costs and prices at the same level
C. Lessen the amount of competition facing home manufacturers
D. Increase the amount of competition facing home manufacturers

A. Monopoly in the home market becomes an oligopoly in the world market
B. Oligopoly in the home market becomes a monopoly in the world market
C. Purely competitive firm in the home market becomes an oligopolist
D. purely competitive firm in the home market becomes a monopolist