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Circular Flow Diagram Quiz Question and Answers 57 PDF Download

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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


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


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


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


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