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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.

The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?

A households do not have perfect information

B firms are not price takers in input markets

C firms are not price takers in the output market

D all of the above

Review Detailed Answer

Correct Answer: all of the above

The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?

A industry equilibrium analysis

B specific equilibrium analysis

C partial equilibrium analysis

D general equilibrium analysis

Review Detailed Answer

Correct Answer: partial equilibrium analysis

When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?

A less than the efficient level of output

B more than the efficient level of output

C so that consumer surplus is zero

D the efficient level of output

Review Detailed Answer

Correct Answer: less than the efficient level of output

The total cost to society of producing an additional unit of a good or service is the ?

A marginal damage cost

B marginal social cost

C marginal private cost

D marginal external cost

Review Detailed Answer

Correct Answer: marginal social cost

If PX > MCX, society gains by ?

A raising the price of X.

B production less X

C Producing more X

D Increasing the cost of producing X

Review Detailed Answer

Correct Answer: Producing more X

The study of human population in terms of size, density, location age gender, race occupation and other statistics is called ?

A Geothermy

B Demography

C Ethnography

D Hemos-popography

Review Detailed Answer

Correct Answer: Demography

One of the most promising developments in multivariable segmentation is called ____ where a host of demographic and socioeconomic factors are used ?

A terragraphic segmentation

B fermagraphic segmentation

C geothermy segmentation

D geodemographic segmentation

Review Detailed Answer

Correct Answer: geodemographic segmentation

Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business ?

A To protect companies form each other

B To protect consumers from unfair business practices

C To protect the interests of society

D To protect businesses from unfair consumer demands

Review Detailed Answer

Correct Answer: To protect the interests of society

The first modern environmental movement in the United States began in the ?

A 1940s

B 1950s

C 1960s and 1970s

D mid-1980s

Review Detailed Answer

Correct Answer: 1960s and 1970s

All of the following are thought to be sources of new product ideas EXCEPT ?

A internal sources

B customers

C competitors

D the local library

Review Detailed Answer

Correct Answer: the local library

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

The conclusion that free, unregulated markets will produce an efficient outcome breaks down if ?

The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?

When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?

The total cost to society of producing an additional unit of a good or service is the ?

If PX > MCX, society gains by ?

The study of human population in terms of size, density, location age gender, race occupation and other statistics is called ?

One of the most promising developments in multivariable segmentation is called ____ where a host of demographic and socioeconomic factors are used ?

Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business ?

The first modern environmental movement in the United States began in the ?

All of the following are thought to be sources of new product ideas EXCEPT ?