Economics Quiz

Economics Quiz

University

15 Qs

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Economics Quiz

Economics Quiz

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

P.Anh Doan

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

A country can export a good when it has:

Only absolute advantage

Only comparative advantage

Both a and b

Neither of a nor b

2.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

Demand function excludes which of the followings:

Price of inputs

Income of consumer

Expectation

Price of related goods

3.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

Inferior good is the one which:

Has low quality

Has low demand

Has decreased demand when consumer’s income increases

Has increased demand when consumer’s income goes up

4.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

Suppose buyers of computers and printers regard those two goods as complementary goods. Then an increase in the price of computers will cause:

a decrease in the demand for printers and a decrease in the quantity supplied of printers.

a decrease in the supply of printers and a decrease in the quantity demanded of printers.

a decrease in the equilibrium price of printers and an increase in the equilibrium quantity of printers.

an increase in the equilibrium price of printers and a decrease in the equilibrium quantity of printers.

5.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

Economics deals primarily with the concept of

Scarcity

Money

Poverty

Banking

6.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

Supply function excludes which of the followings:

Price of inputs

Technology

Price of related goods

Expectation

7.

MULTIPLE CHOICE QUESTION

1 min • 4 pts

A and B are substitutes goods. Reduction in A’s price make B’ price:

Increases

Decreases

Constant

None

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