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Circular Flow Diagram Quiz Question and Answers 57 PDF Download

Circular flow diagram quiz questions, learn economics online test prep 57 for distance learning, online degrees courses. Colleges and universities courses' MCQs on thinking like an economist quiz, circular flow diagram multiple choice questions and answers to learn circular flow diagram quiz with answers. Practice circular flow diagram MCQs, GMAT test prep on economies of scale and international trade, what is competitive market?, world price and comparative advantage, circular flow diagram practice test for online masters in finance and economics courses distance learning.

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Quiz on Circular Flow Diagram Worksheet 57

Circular Flow Diagram Quiz

MCQ: In FOP market, circular flow is like

  1. HH to Organization
  2. HH to Firms
  3. Firms to HH
  4. Organization to HH

B

Circular Flow Diagram Quiz

MCQ: Firms in economy produces goods/services by using inputs like

  1. diagrams, flow charts and equations
  2. revenue, taxes, households, services
  3. wages, building, machines, organizations
  4. labor, land, capital, entrepreneur

D

World Price & Comparative Advantage Quiz

MCQ: While comparing any good or service's international and domestic price gives you

  1. comparative disadvantage
  2. absolute advantage
  3. absolute disadvantage
  4. comparative advantage

D

What is Competitive Market? Quiz

MCQ: Concept of rivalry and competition is always present in

  1. perfectly imperfect markets
  2. perfectly competitive markets
  3. monopoly
  4. oligopoly

B

Economies of Scale & International Trade Quiz

MCQ: Process when a product passes through a sequence of stages from introduction to growth, maturity, and decline is known as

  1. product life-cycle hypothesis
  2. income level hypothesis
  3. product cycle theory
  4. international marketing stages

C