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Economics Exam Prep: Mock Test 68

Factor Intensity Factor Abundance and Shape of Frontier Curve Multiple Choice Questions (MCQs) PDF Download - 68

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The MCQ: Coal mining, fruit farming, ploughing and services at hotels and restaurants are the best examples of "Factor Intensity Factor Abundance & Shape of Frontier Curve" App (Free Android & iOS) with answers: individual intensive, capital intensive, labor intensive, and economy intensive for online college courses. Study factor endowments and hecksher-ohlin theory questions and answers to improve problem solving skills for online bachelor's degree in business administration.

Factor Intensity Factor Abundance & Shape of Frontier Curve MCQ Quiz with Answers PDF Download: Test 68

MCQ: 336

Coal mining, fruit farming, ploughing and services at hotels and restaurants are the best examples of

  1. capital intensive
  2. individual intensive
  3. economy intensive
  4. labor intensive
MCQ: 337

The difference between the amount a producer of a good receives and the minimum amount the producer is willing to accept for the good is known as

  1. consumer surplus
  2. consumer shortage
  3. producer surplus
  4. producer shortage
MCQ: 338

There is kind of a procedure that if anyone gets that, then nobody else can use his/her rights is known as

  1. property rights
  2. corporate rights
  3. patent rights
  4. people rights
MCQ: 339

A firm can sustain in a market if it has the power to

  1. minimize costs
  2. maximize profits
  3. hire as many workers as it needs at the prevailing wage rate
  4. influence the market price of the good it sells
MCQ: 340

The type of model that relates with the distribution of various resources is known as

  1. IS-LM model
  2. demand and supply model
  3. edge worth model
  4. Ricardian model

Factor Intensity Factor Abundance & Shape of Frontier Curve Exam Prep: Economics App & eBook MCQs

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