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Different Kinds of Goods Quiz Question and Answers 32 PDF Download

Learn different kinds of goods quiz questions, economics online test 32 for distance learning BBA degrees, online courses. Colleges and universities courses' MCQs on public goods and common resources quiz, different kinds of goods multiple choice questions and answers to learn different kinds of goods quiz with answers. Practice different kinds of goods MCQs, GMAT test assessment on why monopoly arise?, trade can make everyone better off, what is competitive market?, consumer surplus, different kinds of goods practice test for online economics issues courses distance learning.

Study different kinds of goods online courses with multiple choice question (MCQs): a good is rival in consumption but not excludable is known to be as, for bachelor degree and masters in economics degree questions with choices scarce resource, common resource, public good, and private good for distance education for online masters degree and bachelor's degree distance learning exams. Learn public goods and common resources quizzes with problem solving skills assessment test.

Quiz on Different Kinds of Goods Worksheet 32

Different Kinds of Goods Quiz

MCQ: A good is rival in consumption but not excludable is known to be as

  1. scarce resource
  2. common resource
  3. public good
  4. private good

B

Consumer Surplus Quiz

MCQ: Maximum amount of an individual is willing?to sacrifice to procure a good or avoid something undesirable is known as

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

B

What is Competitive Market? Quiz

MCQ: Law that gives marginal cost curve a positive slope is known as

  1. law of diminishing returns
  2. law of equilibrium
  3. law of decreasing returns
  4. law of constant returns

A

Trade can make everyone better off Quiz

MCQ: Trade is basis for prosperity of a country as it allows

  1. exchange of goods
  2. specialization
  3. Ex. Of money
  4. growing economy

B

Why Monopoly Arise? Quiz

MCQ: Concept that makes market more competitive as well attracts new entrants to enter into market is known to be as

  1. prices
  2. leadership
  3. monopolistic profits
  4. total profit

C