A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?

Related Mcqs:

1. When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?

   A. less than the efficient level of output
   B. more than the efficient level of output
   C. so that consumer surplus is zero
   D. the efficient level of output

2. Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?

   A. idea
   B. demand
   C. product
   D. service

3. If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?

   A. an import subsidy
   B. a quota
   C. comparative advantage
   D. an export subsidy

4. Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?

   A. price distortions
   B. consumer surplus
   C. shadow prices
   D. exchange rates

5. In the long-run some firms will exit the market if the price of the good offered for sale is less than ?

   A. marginal revenue
   B. marginal cost
   C. average total cost
   D. average revenue

6. Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?

   A. End benefit
   B. Trickle down
   C. Free market
   D. Capitalism

7. Endorsement means anything written upon the back of the document What does means by Endorse ?

   A. To verify signature
   B. To verify the person holding cheque
   C. To sign one’s name upon the back of cheque
   D. To sign one’s name upon the front of cheque

8. The smallest unit of ownership of a company is______________?

   A. A share
   B. A debenture
   C. Invest
   D. Capital

9. Public ownership of natural monopolies ?

   A. tends to be inefficient.
   B. usually lowers the cost of production dramatically.
   C. creates synergies between the newly acquired firm and other government-owned companies.
   D. does none of the things described in these answers

10. The divorce of ownership and control tends to occur in ?

    A. sole proprietors
    B. partnerships
    C. public limited companies
    D. monopolies