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Economics Mcqs 4423 MCQs [All-Courses]

Economics MCQs cover fundamental concepts of microeconomics and macroeconomics, including demand and supply, inflation, national income, and economic policies.
This section is designed to strengthen analytical skills and conceptual understanding for competitive examinations.
Highly useful for PPSC, FPSC, NTS, OTS, KPPSC, and other testing services preparation.

International trade is based on the nation that ?

A Different currencies are an obstacle to international trade

B Goods are more mobile internationally than are resources

C Resources are more mobile internationally that are goods

D A country’s exports should always exceed its imports

Review Detailed Answer

Correct Answer: Goods are more mobile internationally than are resources

If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?

A Trade would depend on difference in demand conditions

B Trade would depend on economies of large-scale production

C Trade would depend on the use of different currencies

D There would be no basis for gainful trade

Review Detailed Answer

Correct Answer: Trade would depend on difference in demand conditions

With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?

A One DVD

B Two DVDs

C Three DVDs

D Four DVDs

Review Detailed Answer

Correct Answer: One DVD

With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?

A One-half ton of steel

B One ton of steel

C Two tons of steel

D Two and one-half tons of steel

Review Detailed Answer

Correct Answer: Two tons of steel

According to the Principle of absolute advantage Japan should ?

A Export steel

B Export DVDs

C Exports steel and DVDs

D There is no basis for gainful specialization and trade

Review Detailed Answer

Correct Answer: There is no basis for gainful specialization and trade

The opportunity cost of one DVD in Japan is ?

A One ton of steel

B Two tons of steel

C Three tons of steel

D Four tons of steel

Review Detailed Answer

Correct Answer: One ton of steel

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

International trade is based on the nation that ?

If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?

With international trade, what would be the maximum number of DVDs that Japan would be willing to export to South Korea in exchange for each ton of steel ?

With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?

According to the Principle of absolute advantage Japan should ?

The opportunity cost of one DVD in Japan is ?