The economics the central problem is ?
A. Scarcity
B. Money
C. Consumption
D. Allocation
Economics Mcqs
The public sector includes ?
The public sector includes ?
A. Investors owning companies
B. Government ownership of assets
C. Market forces of supply and demand
D. All trade via barter
A mixed economy ?
A mixed economy ?
A. Has supply but not demand
B. Has demand but not supply
C. Has supply and demand
D. Has market forces and government intervention
The basic economic problems will not be solved by ?
The basic economic problems will not be solved by ?
A. Market forces
B. Government intervention
C. A mixture of government intervention and the free market
D. The creation of unlimited resources
An increase in consumer income will increase demand for a _________ but decrease demand for a?
An increase in consumer income will increase demand for a _________ but decrease demand for a?
A. substitute good, inferior good
B. normal good inferior good
C. inferior good normal good
D. normal good, complementary good
If a price increase of good A increases the quantity demanded of good B, then good B is a________________?
If a price increase of good A increases the quantity demanded of good B, then good B is a________________?
A. substitute good
B. complementary good
C. bargain
D. inferior good
A demand curve can shift because changing ?
A demand curve can shift because changing ?
A. incomes
B. prices of related goods
C. tastes
D. all of the above
________ and ___________ do not directly affect the demand curve ?
________ and ___________ do not directly affect the demand curve ?
A. the price of related goods consumer income
B. consumer incomes, tastes
C. the costs of production bank opening hours
D. the price of related goods preferences
The equilibrium price clears the market it is the price at which _________________?
The equilibrium price clears the market it is the price at which _________________?
A. Everything is sold
B. Buyers spend all their money
C. Quantity demanded equal quality supplied
D. Excess demanded equals quantity
E. C and D
When we know the quantity of a product that buyers wish to purchase at each possible price we know_____________?
When we know the quantity of a product that buyers wish to purchase at each possible price we know_____________?
A. Demand
B. Supply
C. Excess demand
D. Excess supply