1239088
Beschreibung
Quiz von Eco OnTheGo, aktualisiert more than 1 year ago
|
Erstellt von Eco OnTheGo
vor mehr als 9 Jahre
|
|
Frage 1
Frage
Opportunity cost is
Antworten
-
the cost that we forgo or give when we make a choice or decision.
-
a cost that cannot be avoided regardless of what is done in the future.
-
the additional cost of producing one additional unit of output.
-
the additional cost of buying one additional unit of output.
Frage 2
Frage
2. The basic economic problem of “For whom to produce?” is concerned with
Antworten
-
the determination of resources and technique or production to be used.
-
the distribution of good and services produced.
-
the alternatives of collection of goods and services to be produced.
-
the quantities of the goods and services shall be produced.
Frage 3
Frage
Technological advancement normal results in
Antworten
-
a larger quantity being offered for sale than before at each price
-
an increase in supply
-
a rightward shift of the supply curve
-
all the above
Frage 4
Frage
4. Economists make a distinction between change in quantity supplied and change in supply:
Antworten
-
because the demand curve shifts whenever there is a change in supply.
-
because the supply shifts whenever there is a change in quantity supplied
-
to distinguish a movement along a supply curve from a shift in supply.
-
to distinguish a shift in demand from a shift in supply.
Frage 5
Frage
A maximum price result in
Antworten
-
a shortage
-
a surplus
-
equilibrium
-
none of the above
Frage 6
Frage
A simultaneous shift in demand and supply to the right will lead to
Antworten
-
a lower equilibrium quantity
-
a higher equilibrium quantity
-
a similar equilibrium quantity
-
a moderate equilibrium quantity
Frage 7
Frage
In order to protect producer’s income, government should set a price floor
Antworten
-
above the equilibrium price
-
below the equilibrium price
-
equal to the equilibrium price
-
none of the above
Frage 8
Frage
The greater the price elasticity of demand the
Antworten
-
more likely the product is necessity
-
smaller the responsiveness of quantity demanded to price
-
greater the percentage change in price over the percentage change in quantity demanded
-
greater responsiveness of quantity demanded to price
Frage 9
Frage
The price elasticity of demand of a horizontal demand curve is
Antworten
-
perfectly elastic
-
perfectly inelastic
-
unitary elastic
-
inelastic
Frage 10
Frage
If your income increases, but your consumption of sardine decreases, then sardine is
Antworten
-
a normal goods
-
a luxury goods
-
an inferior goods
-
a substitute
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.