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Economics Practice Test 16

What are Costs? Multiple Choice Questions (MCQ) PDF - 16

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What are Costs? Questions and Answers PDF Download: Quiz 16

MCQ 76: When resources are valued, the costs show how much these resources would earn if used in their best alternative uses is known as

A) lump sum principle
B) opportunity cost principle
C) economic profit
D) accounting profit

MCQ 77: The ratio of the marginal opportunity costs of two commodities can be known by

A) slop of PPF
B) slope of isoquant
C) slope of budget line
D) slope of an indifference curve

MCQ 78: A tax burden will always be heavily imposed where market is

A) elastic
B) slightly elastic
C) inelastic
D) slightly inelastic

MCQ 79: The amount of a good that a consumer is willing to give up for another good, as long as the new good is equally satisfying is known as

A) marginal rate of transformation
B) marginal rate of technical substitution
C) marginal rate of substitution
D) marginal opportunity costs

MCQ 80: The difference between the values of imports and exports refers to

A) Balance of trade
B) quota
C) Balance of payments
D) taxes

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What are Costs? Learning App & Free Study Apps

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What are Costs? App (Android & iOS)

What are Costs? App (Android & iOS)

BBA Economics App (Android & iOS)

BBA Economics App (Android & iOS)

Human Resource Management (BBA) App (Android & iOS)

Human Resource Management (BBA) App (Android & iOS)

Business Mathematics App (Android & iOS)

Business Mathematics App (Android & iOS)