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Circular Flow Diagram Quiz Question and Answers 57 PDF Download

Learn circular flow diagram quiz, economics online test 57 for distance learning degree, online 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 career test assessment on economies of scale & international trade, what is competitive market?, world price & comparative advantage, circular flow diagram practice test for online masters in finance and economics courses distance learning.

Study bachelor degree and masters degree in economics questions, circular flow diagram online course has multiple choice question (MCQs): in fop market, circular flow is like with options hh to organization, hh to firms, firms to hh and organization to hh for scholars to prepare for online study guide questions and answers to improve study skills. Learn thinking like an economist quiz questions with problem solving skills assessment test.

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