Economics Quiz 03 Preparation Online Shani Malik — May 22, 2018 in Economics • add comment Economics Quiz 03 Preparation Online 1. Which from the following are features of a modern economy ? A. (D) All of the aboveB. (A) Specialization C. (B) Division of Labor D. (C) Financial Markets Loading... 2. The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as ? A. (A) Microeconomics B. (D) Keynesian EconomicsC. (C) Econometric D. (B) Macroeconomics Loading... 3. Which from the following economic resources cannot be converted into commodity ? A. (B) Labour B. (D) All of these can be converted into commodityC. (C) Capital D. (A) Land Loading... 4. The branch of economics concerned with the behavior of markets, firms, and households is known as ? A. (A) Microeconomics B. (B) Macroeconomics C. (D) Bayesian EconomicsD. (C) Econometric Loading... 5. When no firm or consumer is large enough to affect the market price, the market is assumed to have ? A. (A) perfect competition B. (B) imperfect competition C. (C) no competition D. (D) none of these Loading... 6. Which from the following are the results of imperfect competition in the markets ? A. (B) Externalizes B. (D) All of the aboveC. (A) Monopolies D. (C) Public goods Loading... 7. The branch of economics concerned with overall performance of the economy is known as ? A. (D) Keynesian EconomicsB. (A) Microeconomics C. (C) Econometric D. (B) Macroeconomics Loading... 8. Subsidies are used to encourage __________ of a commodity. A. (B) production B. (D) inflationC. (C) saving D. (A) consumption Loading... 9. Taxes are used to discourage __________ of a commodity. A. (C) saving B. (A) consumption C. (B) production D. (D) inflation Loading... 10. An economy is producing efficiently when no individual’s economic welfare can be improved unless ? A. (A) supply is increased B. (C) someone else is improved C. (B) demand is increased D. (D) someone else is made worse off Loading... Loading... Related NTS Results Post:Economics Quiz 04 Preparation OnlineEconomics Quiz 01 Preparation OnlineEconomics Quiz 02 Preparation OnlineEconomics and Commercial Geography Test 01…Economics and Commercial Geography Test 02…Economics Solved MCQs Test 02 Preparation OnlineEconomics Solved MCQs Test 01 Preparation OnlineEconomics and Commercial Geography Test 03…