A. Free trade
B. Free economy
C. Trade union
D. None
Related Mcqs:
- 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 - Cooperation among unification of the economies of different nations is termed as_____________________?
A. Economic Bloc
B. Economic integration
C. Economic union
D. none - 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 - A market in which products are sold by firms and bought by households is_________________?
A. Resource market
B. Product market
C. Consumer market
D. None - Private or public debt owed to foreign citizens firms and institutions ?
A. External debt
B. Internal debt
C. Loan
D. None - 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 group of firms which produces identical or similar products__________________?
A. Plant
B. Industry
C. Company
D. Organization - 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 - Advantage that occurs to individual or society as a whole as a result of increase in the consumption of certain types of goods or services by other individuals ?
A. Consumption economics
B. Consumption function
C. Consumption surplus
D. Consumer demand
