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MCQ 491: Trade being done in any country will results in:

  1. decreasing scarcity
  2. increasing economic well being
  3. increases specialization
  4. decreasing productivity

MCQ 492: The area lies below the equilibrium of demand and supply curve is known as:

  1. willingness to accept
  2. producer surplus
  3. consumer surplus
  4. willingness to pay

MCQ 493: A place where buyers and sellers interact for a particular good or service is known as:

  1. shop
  2. market
  3. room
  4. social hut

MCQ 494: If growth reduces the volume of trade at constant price , the nation's terms of trade tends to:

  1. deteriorate
  2. improve
  3. be zero
  4. be stable

MCQ 495: A type of tax that builds a difference between the wages that firms issues and the wages that employers (workers) receives is called as:

  1. sales tax
  2. company tax
  3. labor tax
  4. corporate tax

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