Economics MCQs – Mock Test 70

Externality and Market Efficiency MCQs with Answers PDF Download – Test 70

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Free Economics Study App (iOS & Android) with MCQ: "A benefit that is enjoyed by a third-party as a result of an economic transaction is known as"; with answers: externality, negative externality, positive externality, and public good. Practice externalities questions and answers to improve problem solving skills for virtual economics educational resources.

Externality & Market Efficiency MCQs – Mock Test 70 PDF Download

MCQ 346: A benefit that is enjoyed by a third-party as a result of an economic transaction is known as:

negative externality
externality
public good
positive externality

MCQ 347: The type of tariff which let increases the costs to sell the domestic products across the nation's boundaries is known as:

import tariff
ad valorem tariff
specific tariff
export tariff

MCQ 348: Quantity demand and prices of a commodity are when drawn on a graph gives you a picture of:

supply curve
IS-LM curve
demand curve
isoquant

MCQ 349: An economic term in which trade is distorted from an efficient exporter towards a less efficient one by the formation of custom unions is known as:

trade union
trade creation
trade bloc
trade diversion

MCQ 350: The type of trade theory which recommends that a country's best interest is to maintain a:

trade deficit
trade equilibrium
trade surplus
zero trade

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