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Economics MCQs with Explanations

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1331EconomicsMedium

The total number of item that the company carries within its product lines refers to the ________ of the product mix?

length

Bdepth

Cconsistency

Dwidth

Correct answer

A. length

Explanation

The correct answer is length.

1332EconomicsMedium

In a free market system rationing occurs when there are increases in?

Asupply

Bquantity

Cdemand

Dprice

Correct answer

A. supply

Explanation

The correct answer is supply.

1333EconomicsMedium

The reason for dumping is that the demand curve for ABC Co’s computers is because are available from other nations?

Amore inelastic in Japan; fewer substitutes are available from other nations

Bmore elastic in Japan, fewer substitutes are available from other; nations

Cmore elastic in Japan, more substitutes are available from other nations

Dmore inelastic in Japan; more substitutes are available from other; nations

Correct answer

C. more elastic in Japan, more substitutes are available from other nations

Explanation

The correct answer is more elastic in Japan, more substitutes are available from other nations.

1334EconomicsMedium

The quantity demanded of Pepsi has decreased. The best explanation for this is that?

AThe price of Coca Cola has increased,

BPepsi consumers had an increase in income.

CThe price of Pepsi increased

DPepsi’s advertising is not as effective as in the past.

Correct answer

C. The price of Pepsi increased

Explanation

The correct answer is The price of Pepsi increased.

1335EconomicsMedium

Scientists start an investigation with by________?

Aselecting and defining a topic

Breplicating an experiment

Cverifying a hypothesis

Danalyzing data

Correct answer

A. selecting and defining a topic

Explanation

The correct answer is selecting and defining a topic.

1336EconomicsMedium

Which is NOT a type of social differentiation?

AEthnicity and race

BSex and age

CStratification

DHead shape and eye color

Correct answer

D. Head shape and eye color

Explanation

The correct answer is Head shape and eye color.

1337EconomicsMedium

A pigovian tax on pollution?

Areduces the incentive for technological innovations to further reduce pollution

Bdetermines the demand for pollution rights.

CSets the quantity of pollution

DSets the price of pollution

Correct answer

D. Sets the price of pollution

Explanation

The correct answer is Sets the price of pollution.

1338EconomicsMedium

The evaluation that a certain phenomenon is good beautiful moral right and therefore desirable is termed a________?

Avalue

Bguideline

Cnorm

Dfolkway

Correct answer

A. value

Explanation

The correct answer is value.

1339EconomicsMedium

To be considered a a good candidate for an export cartel, a commodity should?

Abe a primary product

Bhave high price elasticity of supply

Cbe a manufactured goods

Dhave a low price elasticity of demand

Correct answer

D. have a low price elasticity of demand

Explanation

The correct answer is have a low price elasticity of demand.

1340EconomicsMedium

What is meant by an objective?

AA target

BA way of reaching a target

CA policy

DA strategy

Correct answer

D. A strategy

Explanation

The correct answer is A strategy.

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Economics MCQs with Explanations

The total number of item that the company carries within its product lines refers to the ________ of the product mix?

In a free market system rationing occurs when there are increases in?

The reason for dumping is that the demand curve for ABC Co’s computers is ________ because ________ are available from other nations?

The quantity demanded of Pepsi has decreased. The best explanation for this is that?

Scientists start an investigation with by________?

Which is NOT a type of social differentiation?

A pigovian tax on pollution?

The evaluation that a certain phenomenon is good beautiful moral right and therefore desirable is termed a________?

To be considered a a good candidate for an export cartel, a commodity should?

What is meant by an objective?

The reason for dumping is that the demand curve for ABC Co’s computers is because are available from other nations?