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.Management Sciences
Category: Economics Mcqs
Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?
A. idea
B. demand
C. product
D. service
The slope at any point on an indifference curve is known as ?
A. the marginal rate of substitution
B. the marginal rate of trade-off.
C. the trade-off rates
D. the marginal rate of indifference
One of the most common problems with using internal database information is that ?
A. since it was probably collected for some other purpose it may be incomplete or wrong
B. it is usually expensive to retrieve
C. top executives are usually unwilling to relinquish data therefore the data has limits
D. the data is almost always unsecured and therefore, suspect as to reliability
The fact that services cannot be stored for later use or sale is evidence of their ?
A. intangibility
B. inseparability
C. variability
D. perishability
The efficient scale of production is the quantity of output that minimizes ?
A. average fixed cost
B. average total cost
C. average variable cost
D. marginal cost
In perfect competition ?
A. Short run abnormal profits are completed away by firms leaving the industry
B. Short run abnormal profits are competed away by firms entering the industry
C. Short run abnormal profits are competed away by the government
D. Short run abnormal profits are competed away by greater advertising
A group way of life lends itself to disorder because_________________?
A. individuals differ in temperament goals and desires
B. the world is based on randomness
C. humans are solitary creatures
D. human behavior is unpredictable
A public good ?
A. Is provided by the government
B. Is free
C. Has the properties of being non-excludable and non-diminishable
D. Gas external costs
Unemployment resulting from real wages being above their equilibrium level is called _________ unemployment?
A. natural
B. frictional
C. disequilibrium
D. structural
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