A. Economics of scale
B. Economics of mass production
C. Both of these
D. None of these
Related Mcqs:
- 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 measure of average output or real output per unit of input is called____________________?
A. Efficiency
B. Production
C. Productivity
D. None - Directing domestic resources to output which a nation is highly efficient at producing is called____________________?
A. International Trade
B. Speculation
C. International specialization
D. None - An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
A. Tariff
B. Tax
C. Tacit collusion
D. Subsidy - An increase either in real output (GDP) or in real output per capita is called___________________?
A. Economic development
B. Economic growth
C. Growth rate
D. Economic efficiency - Total number of monetary units received by a firm from the sale of a product is called___________________?
A. Total revenue
B. Nominal profit
C. Both
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 - An industry in which economics profits are negative and which will, therefore, decrease its output as firms leave it ?
A. Increasing cost industry
B. Decreasing cost industry
C. Declining industry
D. None of these - A section in a nation’s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?
A. Current account
B. Fixed account
C. Saving account
D. Capital account - Excess of total revenue over total costs_______________?
A. Producer surplus
B. Scarcity rent
C. Both
D. None
