A. Unitary price elastic
B. Relatively price inelastic
C. Perfectly price elastic
D. Perfectly price inelastic
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CSS Economics Past Paper Mcqs
CSS Economics Past Paper Mcqs
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A. Free entry and exit
B. Many small sellers and buyers
C. Perfect information
D. Homogeneous product
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A. Seasonal
B. Frictional
C. Cyclical
D. Structural
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A. Consumptive efficiency
B. Production efficiency
C. Allocative efficiency
D. Equity
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A. Total utility of the good for consumption of the last unit
B. Extra utility associated with consuming another unit of the good
C. Utility associated with consuming an alternative good
D. Consumer surplus associated with the consumption of an alternative good
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A. The same as personal income
B. Income that is used only for consumption
C. Personal income remaining after income taxes
D. Exclusive of social security payments or welfare
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A. Have a large GDP than GNP
B. Grow slower economically than the other country
C. Grow faster economically than the other country
D. Have smaller GDP than GNP
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A. Negative
B. Positive
C. Direct
D. None of these
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A. Alfred Marshall
B. Adam Smith
C. Lionel Robbins
D. None of these
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A. Only if both comparative and absolute advantage are present in both countries.
B. If opportunity costs are the same in the countries involved.
C. Only if there are economies of scale available.
D. If countries specialize in the production of goods in which they are relatively more efficient.
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