MCQs

Economics MCQs with Explanations

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2221EconomicsMedium

when the level of income ________ there will be a tendency for the trade balance to improve as imports?

Afalls, increase

Bincrease, fall

Cincrease, increase

Dfalls, fall

Correct answer

D. falls, fall

Explanation

The correct answer is falls, fall.

2222EconomicsMedium

The United Nations________?

AIs primarily an instrument of the U.S

BNone of the above

Cis extremely effective in policing the world

DOpen supports communist and socialist regimes

Correct answer

B. None of the above

Explanation

The correct answer is None of the above.

2223EconomicsMedium

When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle?

AValue marketing

BInnovative marketing

CSocietal marketing

DConsumer-oriented marketing

Correct answer

C. Societal marketing

Explanation

The correct answer is Societal marketing.

2224EconomicsMedium

The profit per sale is a measure of?

AProfit

BProfitability

CRealism

DFeasibility

Correct answer

C. Realism

Explanation

The correct answer is Realism.

2225EconomicsMedium

Which of the following is a criticism of Marxist theory?

AEveryone is talented equally

Binequality is a motivating force for people to rise in the stratification system

CDemocracy delivers equality better than Marxism does

DMarxism tries to explain all social problems

Correct answer

D. Marxism tries to explain all social problems

Explanation

The correct answer is Marxism tries to explain all social problems.

2226EconomicsMedium

If VAT rates rise, then costs are likely to _ and demand is likely to __?

Afall; fall

Brise; fall

Crise; rise

Dfall; rise

Correct answer

B. rise; fall

Explanation

The correct answer is rise; fall.

2227EconomicsMedium

A ________ is a good offered either free or at low cost as an incentive to buy a product?

Apatronage reward

Bprice pack

Cpremium

Dspiff

Correct answer

C. premium

Explanation

The correct answer is premium.

2228EconomicsMedium

Freud located the “libido”?

Awithin family relations

Bwithin the ld

Call of the above

Din the genital stage

Correct answer

B. within the ld

Explanation

The correct answer is within the ld.

2229EconomicsMedium

The burden of a tax falls more heavily on the buyers in a market when?

Aboth supply and demand are elastic

Bdemand is elastic, and supply are inelastic

Cdemand is inelastic, and supply is elastic

Dboth supply and demand are inelastic

Correct answer

C. demand is inelastic, and supply is elastic

Explanation

The correct answer is demand is inelastic, and supply is elastic.

2230EconomicsMedium

In the long run, the competitive firm’s supply curve is the?

Aportion of the marginal cost curve that lies above the average total cost curve

Bentire marginal cost curve

Cupward-sloping portion of the average total cost curve

Dupward-sloping portion of the average variable cost curve

Eportion of the marginal cost curve that lies above the average variable cost curve.

Correct answer

A. portion of the marginal cost curve that lies above the average total cost curve

Explanation

The correct answer is portion of the marginal cost curve that lies above the average total cost curve.

Which of the following is a criticism of Marxist theory?

AEveryone is talented equally

Binequality is a motivating force for people to rise in the stratification system

CDemocracy delivers equality better than Marxism does

DMarxism tries to explain all social problems

Correct answer

D. Marxism tries to explain all social problems

Explanation

The correct answer is Marxism tries to explain all social problems.

In the long run, the competitive firm’s supply curve is the?

Aportion of the marginal cost curve that lies above the average total cost curve

Bentire marginal cost curve

Cupward-sloping portion of the average total cost curve

Dupward-sloping portion of the average variable cost curve

Eportion of the marginal cost curve that lies above the average variable cost curve.

Correct answer

A. portion of the marginal cost curve that lies above the average total cost curve

Explanation

The correct answer is portion of the marginal cost curve that lies above the average total cost curve.

Economics MCQs with Explanations

when the level of income ________ there will be a tendency for the trade balance to improve as imports?

The United Nations________?

When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle?

The profit per sale is a measure of?

Which of the following is a criticism of Marxist theory?

If VAT rates rise, then costs are likely to ___ and demand is likely to ____?

A ________ is a good offered either free or at low cost as an incentive to buy a product?

Freud located the “libido”?

The burden of a tax falls more heavily on the buyers in a market when?

In the long run, the competitive firm’s supply curve is the?

Economics MCQs with Explanations

when the level of income ________ there will be a tendency for the trade balance to improve as imports?

The United Nations________?

When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle?

The profit per sale is a measure of?

Which of the following is a criticism of Marxist theory?

If VAT rates rise, then costs are likely to ___ and demand is likely to ____?

A ________ is a good offered either free or at low cost as an incentive to buy a product?

Freud located the “libido”?

The burden of a tax falls more heavily on the buyers in a market when?

In the long run, the competitive firm’s supply curve is the?

If VAT rates rise, then costs are likely to _ and demand is likely to __?

If VAT rates rise, then costs are likely to _ and demand is likely to __?