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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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