Trade Creating Custom Unions Quiz Questions and Answers PDF - 25

MCQ 121: A type of market that is made up without imposing tariffs on goods and relatively free movement of capital of services is known as

1. imperfect market
2. common market
3. perfect market
4. specific market

MCQ 122: The inputs that are used in the production of goods or services in order to make an economic profit is known as

1. policy instruments
2. factors of production
3. factor of rationalization
4. factors of markets

MCQ 123: The features when an industry will typically consist of many small firms and are perfectly competitive falls under the category of

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

MCQ 124: A tax that is being levied on the markets that generates negative externalities is known as

1. corporate tax
2. Pigovian tax
3. tariff
4. embargo

MCQ 125: The concept that forms part of the Receipt Budget, which in turn is a part of the Annual Financial Statement of the Union Budget is known as

1. price equality
2. total cost
3. total budget
4. total revenue