Questions and answers for exam Preparation

MCQs

Total Questions : 235 | Page 4 of 24 pages

Question 31. To charge different prices for the goods of the same standard is called___________________?

Prices discrimination
Prices differentiation
Oligopoly
Prices elasticity

Discuss Question

Answer: Option A. -> Prices discrimination
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 32. The monetary payment a firm must make to an outsider to obtain a resource____________________?

Implicit cost
Explicit cost
Net cost
Total cost

Discuss Question

Answer: Option B. -> Explicit cost
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 33. An organization which employs resources to produce a good or service for profit and own and operates one or more plants is called_______________?

Company
Factory
Firm
None

Discuss Question

Answer: Option C. -> Firm
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 34. A market in which money of one nation can be used to purchase the money of other nation is called____________________?

Money market
International market
Foreign exchange market
All of these

Discuss Question

Answer: Option C. -> Foreign exchange market
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 35. Legally established maximum price of a good or service__________________?

Ceiling price
Floor price
Max price
None

Discuss Question

Answer: Option A. -> Ceiling price
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 36. A physical establishment which performs one or more functions in production, fabrication and distribution of goods and services ?

Plant
Firm
Factory
None

Discuss Question

Answer: Option A. -> Plant
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 37. An economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities________________?

Pure capitalism
Command Economy
Closed economy
Open economy

Discuss Question

Answer: Option A. -> Pure capitalism
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 38. 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 ?

Tariff
Tax
Tacit collusion
Subsidy

Discuss Question

Answer: Option B. -> Tax
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 39. The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

Trade Balance
Trade deficit
Trade surplus
None

Discuss Question

Answer: Option C. -> Trade surplus
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!

Question 40. 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______________?