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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.

A demand switching policy could be ?

A Higher interest rates

B Higher income tax

C Tariffs

D Reduced government spending

Review Detailed Answer

Correct Answer: Tariffs

What is not a feature of the EU as a single market ?

A Elimination of border controls

B No import taxes on goods bought in another members country

C Each country can retain its own technical standards

D Common security arrangements

Review Detailed Answer

Correct Answer: Each country can retain its own technical standards

When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

A trade diversion

B trade channeling

C trade creation and trade diversion

D trade creation

Review Detailed Answer

Correct Answer: trade diversion

Economic integration ?

A occurs when countries are granted most favored nation status

B occurs when one country voluntarily agrees to reduce its exports to another country

C occurs when two or more nations join to form a free-trade zone

D Occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets

Review Detailed Answer

Correct Answer: occurs when two or more nations join to form a free-trade zone

Tariffs are used to protect infant industries these industries are those which ?

A employ many young or untrained workers

B are competing with well-established overseas firms

C are not yet large enough to achieve economies of scale

D use a new technology

Review Detailed Answer

Correct Answer: are not yet large enough to achieve economies of scale

If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?

A a quota

B dumping

C a tariff

D an export subsidy

Review Detailed Answer

Correct Answer: a quota

One of the main advantages of trade economists suggest is ?

A technological change

B competitions with foreign suppliers

C development of tourism

D lower tariffs

Review Detailed Answer

Correct Answer: competitions with foreign suppliers

A country has a comparative advantage in the production of a product if the good’s _ cost in different from the good’s _ cost in another country ?

A resource; resource

B foreign exchange money

C opportunity; opportunity

D money; opportunity

Review Detailed Answer

Correct Answer: opportunity; opportunity

A significant portion of actual world trade patterns results from ?

A The industrial policies of governments

B different sizes of the countries

C different factor endowment between countries

D the different tastes and preferences of people in different countries

Review Detailed Answer

Correct Answer: different factor endowment between countries

The most wave of globalization which began in the 1980s has emphasized the outsourcing of ?

A services and white-collar jobs

B manufacturing and blue-collar jobs

C natural resource extraction and mining jobs

D agriculture and farming jobs

Review Detailed Answer

Correct Answer: services and white-collar jobs

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Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

A demand switching policy could be ?

What is not a feature of the EU as a single market ?

When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

Economic integration ?

Tariffs are used to protect infant industries these industries are those which ?

If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?

One of the main advantages of trade economists suggest is ?

A country has a comparative advantage in the production of a product if the good’s _ cost in different from the good’s _ cost in another country ?

A significant portion of actual world trade patterns results from ?

The most wave of globalization which began in the 1980s has emphasized the outsourcing of ?

Contact Info

Economics Mcqs 4423 MCQs [All-Courses]

All Topics 4423

All Topics 4423

A demand switching policy could be ?

What is not a feature of the EU as a single market ?

When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

Economic integration ?

Tariffs are used to protect infant industries these industries are those which ?

If the Uk placed a limit on the amount of steel that could be imported into the UK in a particular period this would be an example of ?

One of the main advantages of trade economists suggest is ?

A country has a comparative advantage in the production of a product if the good’s _____ cost in different from the good’s _____ cost in another country ?

A significant portion of actual world trade patterns results from ?

The most wave of globalization which began in the 1980s has emphasized the outsourcing of ?

A country has a comparative advantage in the production of a product if the good’s _ cost in different from the good’s _ cost in another country ?