What are Costs? MCQs (Multiple Choice Questions) PDF Download - 54

A technical relationship between land, labor, capital and organization is known as

1. production function
2. production possibility frontier
3. cost function
4. money demand function

Easy, entertaining and nonmonetary jobs have greater supply of workers as compare to hard, dull and

1. tough jobs
2. leisure jobs
3. monetary jobs
4. professional jobs

If one person consuming a good and uses it up that nobody else can consume it is a good known as a

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

A grouping of countries within which tariffs and non-tariff trade barriers between the members are generally abolished but with no common trade policy toward non-members is known as

1. northern American free trade area
2. free trade area
3. European free trade area
4. economic integration

The transactions that refers to take place to cover deficit arising from autonomous transactions is known s

1. foreign exchange payments
2. balance of payments
3. accommodating payments
4. autonomous payments