Economics Quiz 03 Preparation Online Leave a Comment / Economics / By Shani Malik Economics Quiz 03 Preparation Online 1. Taxes are used to discourage __________ of a commodity. A. (D) inflationB. (A) consumption C. (C) saving D. (B) production Loading... 2. Which from the following are features of a modern economy ? A. (B) Division of Labor B. (D) All of the aboveC. (A) Specialization D. (C) Financial Markets Loading... 3. An economy is producing efficiently when no individual’s economic welfare can be improved unless ? A. (A) supply is increased B. (D) someone else is made worse offC. (C) someone else is improved D. (B) demand is increased Loading... 4. The branch of economics concerned with overall performance of the economy is known as ? A. (B) Macroeconomics B. (A) Microeconomics C. (D) Keynesian 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. (B) imperfect competition B. (C) no competition C. (A) perfect competition D. (D) none of these Loading... 6. Which from the following economic resources cannot be converted into commodity ? A. (D) All of these can be converted into commodityB. (C) Capital C. (B) Labour D. (A) Land Loading... 7. The branch of economics concerned with the behavior of markets, firms, and households is known as ? A. (D) Bayesian EconomicsB. (B) Macroeconomics C. (A) Microeconomics D. (C) Econometric Loading... 8. The branch of economics concerned with the use of statistical methods to obtain empirical results for economic relations is known as ? A. (B) Macroeconomics B. (D) Keynesian EconomicsC. (C) Econometric D. (A) Microeconomics Loading... 9. Subsidies are used to encourage __________ of a commodity. A. (D) inflationB. (C) saving C. (B) production D. (A) consumption Loading... 10. Which from the following are the results of imperfect competition in the markets ? A. (D) All of the aboveB. (A) Monopolies C. (B) Externalizes D. (C) Public goods Loading... Loading... Related NTS Results Post:English Grammar Quiz Online Test 01Variations and Mutations Test 01 Preparation OnlineVariations and Mutations Test 04 Preparation OnlineVariations and Mutations Test 05 Preparation OnlineVariations and Mutations Test 02 Preparation OnlineVariations and Mutations Test 03 Preparation OnlineIslamiat Mcqs Test 03 Online PreparationBiology Mcqs Test 09 Online Preparation