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Economics Cerification Guide: Mock Test 87

Production Possibilities Notes Questions with Answers PDF Download - 87

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The Quiz: If USA is producing 6 units of potatoes and 4 units of onions, Pakistan has got potato "Production Possibilities" App (iOS, Android) with answers: specialization, comparative disadvantage, comparative advantage, and gains from trade for online degrees. Practice interdependence and gains from trade questions and answers to improve problem solving skills for online business administration degree classes.

Production Possibilities Quiz with Answers PDF Download: MCQs 87

MCQ: 431

If USA is producing 6 units of potatoes and 4 units of onions, Pakistan has got potato

  1. comparative disadvantage
  2. specialization
  3. gains from trade
  4. comparative advantage
MCQ: 432

If there is 20 percent increase in the prices of popcorns causes the amount of popcorns you are buying to fall by 40 percent, what will be the price elasticity of demand?

  1. 10 percent
  2. 15 percent
  3. 20 percent
  4. 25 percent
MCQ: 433

A rate applicable to a financial transaction that will take place in the future is known as

  1. spot rate
  2. exchange rate
  3. forward rate
  4. currency swaps
MCQ: 434

The sum of all expenses paid to produce a product, purchase an investment, or acquire a piece of equipment including not only the initial cash outlay but also the opportunity cost of their choices is known as

  1. implicit cost
  2. explicit cost
  3. total cost
  4. total revenue
MCQ: 435

The demand curve of a monopolistic firm will always be

  1. upward sloping
  2. straight line
  3. downward sloping
  4. horizontal

Production Possibilities Cerification Guide: Economics App & eBook Notes

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Production Possibilities Quiz App (Android & iOS)

Production Possibilities Quiz App

BBA Economics Quiz App (iOS & Android)

BBA Economics Quiz App

Human Resource Management (BBA) Quiz App (Android & iOS)

Human Resource Management (BBA) Quiz App

Marketing Management Quiz App (iOS & Android)

Marketing Management Quiz App