Managerial Economics Quiz: Test!
- 1.Price floor is to protect the interests of:
- A.
Sellers
- B.
Buyers
- C.
Government
- D.
Market
- 2.PPC curve highlights the problem:
- A.
Scarcity
- B.
Concave
- C.
Two goods only
- D.
Unlimited resources and Technology
- 3.PPC curve shows:
- A.
Increasing marginal opportunity cost
- B.
Constant marginal opportunity cost
- C.
Decreasing marginal cost
- D.
Increasing fist and later decreasing
- 4.Consumer preferences are taken into account.
- A.
Capitalism
- B.
Socialism
- C.
Communism
- D.
Mixed economy
- 5.The following factor will not cause a shift in the demand curve.
- A.
Price of the good
- B.
Price of related goods
- C.
Taste and Preferences
- D.
Income of the consumer
- 6.Under price floor one comes across:
- A.
Excess supply
- B.
Excess demand
- C.
Both excess supply and demand
- D.
Black marketing
- 7.Whom to produce deals with:
- A.
Distribution of national income
- B.
Goods to be produced
- C.
Machinery and tools
- D.
Growth
- 8.PPC shifts to the right when there is:
- A.
Change in technology and availability of resources
- B.
Change in technology only
- C.
Change in resources only
- D.
During the short run
- 9.Which of the following is not determinant of supply?
- A.
Taste and preferences
- B.
Cost of inputs
- C.
Technology
- D.
Prices of related goods
- 10.Excess demand is found under:
- A.
Price ceiling and control
- B.
Price floor
- C.
At equilibrium price
- D.
If price set is above the equilibrium price
Questions: 10 | Attempts: 18339 | Last updated: Jun 15, 2020
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