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Production Possibilities Questions and Answers PDF Download 87

Practice Production Possibilities trivia questions and answers, production possibilities quiz answers PDF to solve economics mock test 87 for online degrees. Practice Interdependence and Gains From Trade trivia questions and answers, production possibilities multiple choice Questions and Answers (MCQ) to solve production possibilities test with answers for online university degrees. Free production possibilities MCQs, why monopoly arise?, what are costs?, functions of foreign exchange market, elasticity of demand, production possibilities test prep for online courses for business management degree.

"If USA is producing 6 units of potatoes and 4 units of onions, Pakistan has got potato", production possibilities Multiple Choice Questions (MCQ) with choices specialization, comparative disadvantage, gains from trade, and comparative advantage to learn economics certificate courses. Learn interdependence and gains from trade questions and answers with free online certification courses for best online colleges for business administration.

Trivia Quiz on Production Possibilities PDF Download 87

Production Possibilities Quiz

MCQ: If USA is producing 6 units of potatoes and 4 units of onions, Pakistan has got potato

  1. comparative disadvantage
  2. specialization
  3. gains from trade
  4. comparative advantage

B

Elasticity of Demand Quiz

MCQ: If there is 20 percent increase in the prices of popcorns causes the amount of popcorns you are buying to fall by 40 percent, what will be the price elasticity of demand?

  1. 10 percent
  2. 15 percent
  3. 20 percent
  4. 25 percent

C

Functions of Foreign Exchange Market Quiz

MCQ: A rate applicable to a financial transaction that will take place in the future is known as

  1. spot rate
  2. exchange rate
  3. forward rate
  4. currency swaps

C

What are Costs? Quiz

MCQ: The sum of all expenses paid to produce a product, purchase an investment, or acquire a piece of equipment including not only the initial cash outlay but also the opportunity cost of their choices is known as

  1. implicit cost
  2. explicit cost
  3. total cost
  4. total revenue

C

Why Monopoly Arise? Quiz

MCQ: The demand curve of a monopolistic firm will always be

  1. upward sloping
  2. straight line
  3. downward sloping
  4. horizontal

C