Economics MCQs

A. Is relevant only for a capitalist economy like the united states.
B. Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.
C. Suggests all our wants can be achieved.
D. Would be relevant if we eliminated poverty

A. Capital consumption frontier.
B. Lorenz curve.
C. Circular-flow diagram.
D. Production possibility curve.

A. More spending by the government reduces poverty
B. Higher taxes lead to less desire to work
C. The pakistan’s economy is growing fast relative to other saarc members
D. The government should concentrate on reducing unemployment

A. The behavior of the electronics industry
B. The behavior of firms
C. Economics aggregates
D. The activities of individual units

A. Descriptive economics
B. Normative economics
C. Macroeconomics.
D. Microeconomics

A. What to produce
B. Who to produce for
C. How to produce
D. How to maximize economic growth

A. The free provision of products
B. The subsidizing of products by the government
C. Market forces of supply and demand
D. All trade via barter

A. The price mechanism acts as an incentive
B. Resources are allocated by market forces
C. Individual firms make decisions for themselves about what to produce and how to produce it
D. The public sector is large

A. Alternative
B. Opportunity cost
C. Consumer cost
D. Producer cost

A. Alternative
B. Opportunity cost
C. Consumer cost
D. Producer cost