A. Resource market
B. Product market
C. Consumer market
D. None
Related Mcqs:
- A market in which products households sell and firms buy resources or the services of resources is__________________?
A. Resource market
B. Product market
C. Consumer market
D. Producer market - The households and the business firms of the economy are called__________________?
A. Public sector
B. Ptivate sector
C. Govt sector
D. None - An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?
A. Declining industry
B. Decreasing cost industry
C. Both
D. None - A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?
A. Income schedule
B. Saving schedule
C. Consumption schedule
D. None - The part of the urban economy of LDC’s characterized by small competitive individual or family firms, labour intensive methods, free entry and market determined factor and product prices?
A. Formal sector
B. Informal sector
C. Formal finance
D. Informal finance - The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
A. Value added
B. Value of money
C. Vertical range
D. None - A market situation in which a product that does not have close substitutes is being produced and sold by a single seller?
A. Oligopoly
B. Monopoly
C. Perfect competition
D. None - A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
A. Indifference curve
B. Lorenz curve
C. Budget line
D. Say’s law - The absence of artificial barriers to trade among individuals and firms in different nations ?
A. Free trade
B. Free economy
C. Trade union
D. None - A group of firms which produces identical or similar products__________________?
A. Plant
B. Industry
C. Company
D. Organization
