Economics MCQs (BBA Business Administration) From Textbook

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Economics MCQs – Mock Test 8

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Taxes MCQ Quiz with Answers PDF Download: Test 8

MCQ: 36

The condition when the burden of paying tax is shared among the collective participants in a market is known as

  1. tax on buyers
  2. tax on sellers
  3. tax incidence
  4. tax administration
MCQ: 37

The best opportunity to increase country's prosperity is

  1. quota
  2. embargo
  3. tariffs
  4. trade and specialization
MCQ: 38

When price of popcorn reduces whereas the price of movie tickets increases and vice versa, are to be known as

  1. inferior goods
  2. complementary goods
  3. substitutes
  4. normal goods
MCQ: 39

The amount of one good which must be given up in order to release resources necessary to produce an additional unit of another good is known as

  1. marginal rate of cost
  2. average rate of cost
  3. marginal rate of substitution
  4. marginal rate of transformation
MCQ: 40

One of the basic loss suffers by society because of levying taxes or subsidies is known as

  1. loss for buyers
  2. loss for sellers
  3. dead weight loss of taxation
  4. shortage of taxation

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