_______ is quoted as saying that everyone lives by selling something?

Related Mcqs:

1. Quoted bid or highest price on inventor in willing to pay to buy a security is called ?

   A. Offer price
   B. Bid price
   C. Quote price
   D. Market price

2. The Ultimate effect of the invisible hand of Adam Smith is that in a competitive economy everyone ?

   A. benefits if each acts in his/her own interest
   B. will increase their profits in a free market
   C. should act to maximize economic growth
   D. should act to promote the public interest

3. Utilitarianism suggests that the government should choose policies that maximize the total utility of everyone in society by ?

   A. redistributing income from rich to poor because this is what the members of society would choose to do if they were behind a veil of ignorance
   B. redistributing income from rich to poor because due to the diminishing marginal utility of income, taking a pound from the rich reduces their utility by less than the gain in utility generated by giving a pound to the poor
   C. allowing each individual to maximize their own utility without interference from the government
   redistributing income from rich to poor because this would maximize the well-being of the worst-off person in society

4. Rawls’s miximin criterion does not mean that there should be redistribution so as to equalise everyone’s incomes in society because ?

   A. Such redistribution would mean that those who worked hard were no better off than those who were lazy and this would be unfair.
   B. such redistribution would not maximize the total income of all members of society
   C. Such redistribution would remove the incentive to work hard, so society’s total income would fall, and so the least well off person would be worse off than they could be under a system in which there was some inequality income.
   D. such redistribution would amount to confiscation of honestly earned income from higher earners and so would be unjust.

5. If the economy is at the peak of the business cycle, aggregate demand ____ unemployment _______ inflation _______ and the current account of the balance of payments is likely to move towards _______?

   A. rise; falls; rise; deficit
   B. falls; rises; falls; surplus
   C. falls; falls; falls; surplus
   D. is static; low; rises; deficit

6. _______ is the general term for a buying and selling process that is supported by electronic means?

   A. Internet commerce
   B. Web commerce
   C. Computer commerce
   D. Electronic commerce

7. _______ is the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call?

   A. Prospecting
   B. Preapproach
   C. Approach
   D. Handling objections

8. The franc is said to be selling at a _______ if the spot dollar price is $0.48 and the nine-month forward rate is $0.42 ?

   A. forward discount
   B. forward premium
   C. forward spread
   D. None of these

9. Medical care clearly enhance people’s lives. Therefore, we should consume medical care until ?

   A. everyone has as much as they would like
   B. the benefit buyers place on medical care is equal to the cost of producing it
   C. buyers receive no benefit from another unit of medical care.
   D. we must cut back on the consumption of other goods.

10. 85% of the world’s population lives in developing countries and receives about _____ of the world’s income?

    A. 40%
    B. 10%
    C. 20%
    D. 30%