Category: Economics Mcqs
In a command (planned) economy ?
A. The price mechanism acts as an incentive
B. Resources are allocated by market forces
C. Individual firms make decisions for themselves about what to produce and how to produce it
D. The public sector is large
To assign uniform characteristics to an entire group of people without allowing for individual differences is called_____________?
A. prejudging
B. characterizing
C. stereotyping
D. discriminating
In cartels ?
A. Each individual firm profit maximizes
B. There may be an incentive to cheat
C. The industry as a whole is loss making
D. There is no need to police agreements
Which of the following statements is true ?
A. Most of the health problems associated with growing old pose serious problems by the age of 65
B. A majority of the elderly live in nursing homes
C. Young workers perform far better than elderly workers which is why employers prefer tham
D. none of the above
Recent research supports the notion that mother-infant bonding_______________?
A. has a cultural basis
B. has a biological basis
C. depends on how wanted the infant is
D. none of the above
Which one of the following was the most important condition for the growth of the early cities ?
A. Discoveries of new trades
B. Increase in population
C. Surplus food production
D. Technological innovations
Using a successful brand name to introduce additional items in a given product category under the same brand same (such as new flavors, forms, colors, added ingredients or package seizes) is called a(n)?
A. line extension
B. brand extension
C. multibranding
D. new brands
The speculative demand for money occurs when ?
A. Individuals hold money just in case an emergency happens
B. Individuals hold money to buy things
C. Individuals hold money rather than other assets because they are worried about the price of the other assets falling
D. Individuals hold money to shop
Which of the following will NOT cause a shift in the demand curve for compact discs ?
A. A change in wealth
B. A change in the price of compact discs
C. A change in income.
A change in the price of pre-recorded cassette tapes
The government increase government spending to try to reduce unemployment This is an example of ?
A. laissez-faire.
B. monetary policy
C. fine tuning
D. automatic stablisers
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