A market can accurately be described as_________________?

Related Mcqs:

The sacrifice involved when you choose a particular course of action is called the ?

A. Alternative B. Opportunity cost C. Consumer cost D. Producer cost...

Which of the following is a normative statement in economics ?

A. More spending by the government reduces poverty B. Higher taxes lead to less desire to work C. The Pakistan’s economy is growing fast relative to other SAARC members D. The government should concentrate on reducing unemployment...

In a free market?

A. government intervenes B. government plan production C. government interferes D. Prices adjust to reconcile scarcity and desires...

An increase in consumer income will increase demand for a _________ but decrease demand for a?

A. substitute good, inferior good B. normal good inferior good C. inferior good normal good D. normal good, complementary good...

An increase in the price of beef providers information which ?

A. provides no information because prices in a market system are managed by planning boards. B. tells consumers to buy less pork C. tells producers to produce more beef. D. tells consumers to buy more beef....