Externality and Market Efficiency Quiz PDF: Questions and Answers - 63

MCQ 311: The expenses for buying and selling a good or service is known as

1. transaction cost
2. total benefit
3. total revenue
4. private solution

MCQ 312: A branch of economics which studies how the distribution of income, resources and goods affects the economic well-being is called as

1. development economics
2. welfare economics
3. public policy
4. health economics

MCQ 313: To earn maximum prosperity in an economy, government encourages more

1. bundle products
2. exports
3. raw materials
4. imports

MCQ 314: Goods/services that are brought into one's country from abroad are

1. trade
2. imports
3. exports
4. raw materials

MCQ 315: Taxing the right amount to the right people will let the step towards

1. free rider problem
2. poverty alleviation
3. proper utilization of resources
4. monopoly