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A compensation device through which workers receive part of their pay in the form of share of their employer’s profit___________________?

August 30, 2021March 27, 2019 by QuizMaster

A compensation device through which workers receive part of their pay in the form of of their employer’s profit___________________?

A. Labour laws
B. Labour saving scheme
C. Profit sharing plan
D. Profit maximizing plan

A minimum price which govt. allows seller to receive for a good or service____________________?

August 30, 2021March 27, 2019 by QuizMaster

A minimum price which govt. allows seller to receive for a good or service____________________?

A. Ceiling Price
B. Floor Price
C. Supprot Price
D. All

A market in which products are sold by firms and bought by households is_________________?

August 30, 2021March 27, 2019 by QuizMaster

A market in which products are sold by firms and bought by households is_________________?

A. Resource market
B. Product market
C. Consumer market
D. None

An institution or mechanism which brings together buyers and sellers is called____________________?

August 30, 2021March 27, 2019 by QuizMaster

An institution or mechanism which brings together buyers and sellers is called____________________?

A. Market
B. Resource Market
C. Product Market
D. None

The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?

August 30, 2021March 27, 2019 by QuizMaster

The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?

A. Value added
B. Value of money
C. Vertical range
D. None

The percentage of labour force unemployment at any time__________________?

August 30, 2021March 27, 2019 by QuizMaster

The percentage of labour force unemployment at any time__________________?

A. Unemployment rate
B. Inflation rate
C. Deflation rate
D. None

A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?

August 30, 2021March 27, 2019 by QuizMaster

A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?

A. Tax
B. Tariff
C. Transfer payment
D. Subsidy

The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

August 30, 2021March 27, 2019 by QuizMaster

The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

A. Trade Balance
B. Trade deficit
C. Trade surplus
D. None

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?

August 30, 2021March 27, 2019 by QuizMaster

An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?

A. Tariff
B. Tax
C. Tacit collusion
D. Subsidy

An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?

August 30, 2021March 27, 2019 by QuizMaster

An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?

A. Pure capitalism
B. Command Economy
C. Closed economy
D. Open economy