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Economics MCQs – Mock Test 17

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Free Different Kinds of Goods Study App Download with MCQ: "Product that one individual can consume without reducing its availability to another individual, and from which no one is excluded is known as"; with answers: excludable good, private good, rivalry good, and public good. Solve public goods and common resources questions and answers to improve problem solving skills for economics structured learning.

Different Kinds of Goods Quiz – Mock Test 17 PDF Download

MCQ 81: The product that one individual can consume without reducing its availability to another individual, and from which no one is excluded is known as:

  1. private good
  2. excludable good
  3. public good
  4. rivalry good

MCQ 82: The model that suggests that relative economic size attracts countries to trade while longer distance discourages attractiveness falls under:

  1. ricardo model
  2. gravity model of trade
  3. heckscher-ohlin model
  4. IS-LM model

MCQ 83: Online news media has drawn customers away from physical newspapers, is an example of:

  1. technological under employment
  2. technological structural unemployment
  3. technological frictional unemployment
  4. technological efficiency

MCQ 84: Cost of forgoing one alternative over another is known as:

  1. average cost
  2. marginal cost
  3. opportunity cost
  4. fixed cost

MCQ 85: The amount of money a person spends on imports as a percentage of total income is known as:

  1. marginal propensity to imports
  2. marginal propensity to exports
  3. average propensity to exports
  4. average propensity to imports

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