Economics Economics Quiz 03 Preparation Online Economics Quiz 03 Preparation Online 1. When no firm or consumer is large enough to affect the market price, the market is assumed to have ? A. (B) imperfect competition B. (C) no competition C. (D) none of theseD. (A) perfect competition Loading... 2. An economy is producing efficiently when no individual’s economic welfare can be improved unless ? A. (B) demand is increased B. (C) someone else is improved C. (A) supply is increased D. (D) someone else is made worse off 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. (A) Land D. (C) Capital Loading... 4. The branch of economics concerned with overall performance of the economy is known as ? A. (C) Econometric B. (A) Microeconomics C. (B) Macroeconomics D. (D) Keynesian Economics Loading... 5. Taxes are used to discourage __________ of a commodity. A. (D) inflationB. (C) saving C. (B) production D. (A) consumption Loading... 6. Which from the following are the results of imperfect competition in the markets ? A. (D) All of the aboveB. (B) Externalizes C. (A) Monopolies D. (C) Public goods Loading... 7. 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... 8. Subsidies are used to encourage __________ of a commodity. A. (D) inflationB. (B) production C. (A) consumption D. (C) saving Loading... 9. Which from the following are features of a modern economy ? A. (C) Financial Markets B. (B) Division of Labor C. (D) All of the aboveD. (A) Specialization Loading... 10. The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as ? A. (C) Econometric B. (D) Keynesian EconomicsC. (A) Microeconomics D. (B) Macroeconomics Loading... Loading... Related PostsEconomics Quiz 02 Preparation OnlineEconomics Quiz 01 Preparation OnlineEconomics Quiz 04 Preparation OnlineChemistry Mega Quiz Test Online for PreparationEconomics and Commercial Geography Test 02 Preparation…Economics and Commercial Geography Test 03 Preparation… Continue Reading Previous Economics Quiz 02 Preparation OnlineNext Economics Quiz 04 Preparation Online Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Δ