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Externality & Market Efficiency MCQs – Mock Test 63 PDF Download

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

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