Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?

Related Mcqs:

1. Jamil’s friend dies of a sudden heart attack. Jamil rushes to his doctor for an expensive physical examination. This response demonstrates that ?

   A. People give too much weight to a small number of vivid observations
   B. People easily change their minds when confronted with new information
   C. People enjoy going to the doctor
   D. People tend to plan ahead and follow through on their plans

2. Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?

   A. efficiency Saleem should receive the glove
   B. Efficiency Jamil should receive the glove
   C. equity Jamil should receive the glove
   D. consumer surplus both should receive a glove

3. Nicole wants to avoid buying a car that is a lemon. She takes a car she would like to buy to her mechanic before she purchases it. This is known as ?

   A. screening
   B. signaling
   C. moral hazard
   D. adverse selection

4. If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

   A. Rs50
   B. Rs100
   C. Rs650
   D. Rs500

5. When an individual buys a car in a congested urban area, it generates ?

   A. a positive externality
   B. a technology spillover
   C. an efficient market outcome.
   D. a negative externality

6. In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?

   A. Orderly marketing
   B. trigger pricing
   C. domestic content pricing
   D. dumping

7. If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?

   A. Product idea
   B. Product image
   C. Product concept
   D. Product features

8. If a consumer describes a car as being the most economical car on the market than this descriptor is a?

   A. rule
   B. attitude
   C. belief
   D. cute

9. A seller of goods or services writes a bill that is submitted to a purchaser for payment. What this bill is called?

   A. Demand draft
   B. Draft
   C. Invoice
   D. Bill of Intent

10. Suppose each of 20 neighbours on street values street repairs at €3000 the cost of the street repair is €40,000 which of the following statements is true ?

    A. it is efficient for the government to tax the resident €2,000 each and repair the road
    B. It is efficient for each neighbour to pay €3,000 to repair the section of street in front of his/her home
    C. None of these answers are true
    D. it is not efficient to have the street repaired