Economics: Government Intervention

Which one of these is NOT a form of government intervention

• Subsidies

• Tax

• Price controls

• Market failure

Price controls consists of...

• Price ceiling

• Price floor

• Subsidies

• Tax

Which one of these is the Price Ceiling diagram?

• 
• 
• 
• 

Which one of these is the Price Floor diagram?

• 
• 
• 
• 

Shortage is a condition when...

• Quantity supplied is more than the demand

• Quantity demanded is equal to the supply

• Quantity supplied is less than the demand

• Quantity demanded is more than the supply

Surplus is a condition when...

• Quantity supplied is more than the demand

• Quantity demanded is equal to the supply

• Quantity supplied is less than the demand

• Quantity demanded is less than the supply

What kind of taxes are included in the indirect taxes?

• Specific

• Ad valorem

• General

• Dividend

Ad valorem is an indirect tax that is in the form of​ (a)  

• percentage
• multiplication
• addition
• substraction
• free tax

Consumers pay all the portion of indirect taxes of products ​ (a)  

• False
• True

In an price elastic of demand goods, the producers or manufacturers are paying a bigger proportion of indirect tax ​ (a)  

• True
• False