A. substitute good, inferior good
B. normal good inferior good
C. inferior good normal good
D. normal good, complementary good
A. substitute good
B. complementary good
C. bargain
D. inferior good
A. incomes
B. prices of related goods
C. tastes
D. all of the above
A demand curve can shift because changing ? Read More »
Economics Mcqs, Introduction To Economics 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
________ and ___________ do not directly affect the demand curve ? Read More »
Economics Mcqs, Introduction To Economics 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
The equilibrium price clears the market it is the price at which _________________? Read More »
Economics Mcqs, Introduction To Economics A. Demand
B. Supply
C. Excess demand
D. Excess supply
A. moves down to the right
B. moves up to the left
C. moves up to the right
D. moves down to the left
On a graph, a positive linear relationship___________________? Read More »
Economics Mcqs, Introduction To Economics A. 20%
B. 2%
C. 12%
D. 16%
A. construct price lists
B. compare shop prices
C. measure changes in the cost of living
D. None of the above
The retail price index is used to__________________? Read More »
Economics Mcqs, Introduction To Economics A. they suggest relationships for explanation, allow testing of hypotheses
B. they can be used for tables, they can be graphed
C. they can be used in computers governments use them
D. they provide interesting information can be summarized
Data are important in economics because _________ and ____________? Read More »
Economics Mcqs, Introduction To Economics