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Free Economies of Scale & International Trade MCQs App Download (Android & iOS): Concept that occurs when some activity is being performed outside of a firm but within an industry is known to be as; MCQ with answers: internal economies of scale, economies of scale, diseconomies of scale, and external economies of scale. Learn economies of scale, imperfect competition, and international trade questions and answers to improve problem solving skills for online economics lectures.

Economies of Scale & International Trade MCQ – Mock Test 96 PDF Download

MCQ 476: The concept that occurs when some activity is being performed outside of a firm but within an industry is known to be as:

  1. economies of scale
  2. internal economies of scale
  3. external economies of scale
  4. diseconomies of scale

MCQ 477: The organization that set/negotiate trade agreement between almost all of the nations in the world is:

  1. UNO
  2. UNDP
  3. WTO
  4. SAARC

MCQ 478: A free trade union with a common policy regarding tariffs and measures having equivalent effect is known as:

  1. free trade agreement
  2. European free trade area
  3. custom union
  4. European union

MCQ 479: Monopolies can become inefficient and less innovative over time because they do not have to compete with other producers in a marketplace and thus creates:

  1. abnormal profit
  2. loss
  3. super normal profit
  4. dead weight loss

MCQ 480: If someone loses their job, they may sell some of their wealth and convert it into income to help cover for their period of need until they can find another job, is the best example for:

  1. transitory income
  2. permanent income
  3. life cycle hypothesis income
  4. total income

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