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MCQs

Total Questions : 50 | Page 5 of 5 pages
Question 41. What do you mean by Marginal Opportunity Cost ?
  1.    It is the ratio between the loss of output and gain of output
  2.    It refers to the total loss of output
  3.    It is the ratio between the loss of input and gain of input
  4.    Both B and C
 Discuss Question
Answer: Option A. -> It is the ratio between the loss of output and gain of output
Question 42. What does export mean?
  1.    Selling goods to another country
  2.    Planting tree in desert area
  3.    Buying goods from another country
  4.    All of above
 Discuss Question
Answer: Option A. -> Selling goods to another country
Question 43. What major problem did Nicaragua face in 1998?
  1.    destruction by a hurricane
  2.    debt to foreign nations
  3.    damage by an earthquake
  4.    eruptions from a volcano
 Discuss Question
Answer: Option A. -> destruction by a hurricane
Question 44. Economic problems arises due to
  1.    Limited wants
  2.    Scare means
  3.    Alternative uses
  4.    Both B and C
 Discuss Question
Answer: Option D. -> Both B and C
Question 45. What do you mean by Opportunity cost?
  1.    The accounting cost minus the marginal benefit.
  2.    The accounting cost minus the marginal cost
  3.    The highest-valued alternative forgone.
  4.    Both A & B
 Discuss Question
Answer: Option C. -> The highest-valued alternative forgone.
Question 46. What are types of technique of production?
  1.    Labor Intensive Technique
  2.    Capital Intensive Technique
  3.    Both A and B
  4.    Other
 Discuss Question
Answer: Option C. -> Both A and B
Question 47. What causes economic problems?
  1.    Unlimited Wants
  2.    Unlimited resources
  3.    Limited or Scare means
  4.    Alternative Uses
 Discuss Question
Answer: Option A. -> Unlimited Wants
Question 48. Which is not a central problem of an economy:
  1.    What to produce?
  2.    How to maximize the profit
  3.    How to produce?
  4.    For whom to produce?
 Discuss Question
Answer: Option B. -> How to maximize the profit
Question 49. Which of the following is related to the problem of how to produce?
  1.    Choice of Technique
  2.    Factoral distribution of income
  3.    Choice of product
  4.    None of these
 Discuss Question
Answer: Option A. -> Choice of Technique
Question 50. What were the biggest problems in building the Panama Canal?
  1.    floods and high winds
  2.    earthquakes and volcanoes
  3.    dictators and civil war
  4.    mosquitoes and rough terrain
 Discuss Question
Answer: Option D. -> mosquitoes and rough terrain

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