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MCQs

Total Questions : 874 | Page 84 of 88 pages
Question 831. When the quantity supplied is greater than the quantity demanded
  1.    a shortage has occurred.
  2.    a surplus has occurred.
  3.    it doesn't mean anything.
  4.    government intervenes.
 Discuss Question
Answer: Option B. -> a surplus has occurred.
Question 832. The term of market economy in which the productive resources are privately owned
  1.    capitalism
  2.    mixed economy 
  3.    command economy 
  4.    none of them
 Discuss Question
Answer: Option A. -> capitalism
Question 833. What is the calculation of the value in USD of all the goods and services
  1.    Import
  2.    Export
  3.    Gross Domestic Product
  4.    Human Development Index
 Discuss Question
Answer: Option C. -> Gross Domestic Product
Question 834. What is a high price a signal for?
  1.    government to enact price controls
  2.    producers to offer less & consumers to buy more
  3.    producers to offer more & consumers to buy less
  4.    suppliers to reduce sales until prices peak
 Discuss Question
Answer: Option C. -> producers to offer more & consumers to buy less
Question 835. What is the total amount of a good or service available for purchase?
  1.    Producer
  2.    Consumer
  3.    Demand
  4.    Supply
 Discuss Question
Answer: Option D. -> Supply
Question 836. The action of fulfilling a need for income
  1.    services
  2.    need
  3.    want
  4.    consumer
 Discuss Question
Answer: Option A. -> services
Question 837. Who was the writer for Wealth of Nations
  1.    Plato
  2.    Karl Marx
  3.    Paul Samuelson
  4.    Adam Smith
 Discuss Question
Answer: Option D. -> Adam Smith
Question 838. How much of something is available
  1.    supply
  2.    demand
 Discuss Question
Answer: Option A. -> supply
Question 839. Actions that people do for others
  1.    goods
  2.    services
  3.    supply
  4.    None of these
 Discuss Question
Answer: Option B. -> services
Question 840. There are 4 _______________
  1.    Factors of Production
  2.    Market Economy
  3.    Profit
  4.    Economics
 Discuss Question
Answer: Option A. -> Factors of Production

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