Economics Certification MCQs – Mock Test 31

Different Kinds of Goods Notes Questions with Answers PDF Download – Test 31

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Different Kinds of Goods MCQs – Mock Test 31 PDF Download

MCQ 151: If both private and public be joined together gives you a good named:

mixed good
bad good
patent good
total cost

MCQ 152: The type of activity refers to the increase in economic welfare from joining a free trade area, such as a custom union is known as:

trade creating
trade diversion
benefits from free trade
comparative advantage

MCQ 153: When wages are lower, labor becomes relatively cheaper as compare to:

capital
land
building
hiring

MCQ 154: There are a little restrictions or barriers to enter or exit the market, it is only applicable in:

free market
oligopoly
imperfect market
monopolistic competitive market

MCQ 155: When no player in a game can increase his or her payoff by unilaterally changing their actions is an example of:

Nash equilibrium
duopoly
game theory
pareto efficiency

Different Kinds of Goods Notes App & eBook – Economics Certification Guide

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