Economics is the study of ?

Related Mcqs:

1. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of ?

   A. Rs 60
   B. Rs 90
   C. Rs 85
   D. Rs 75

2. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero-marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total ?

   A. Rs 85
   B. Rs 75
   C. Rs 80
   D. Rs 60

3. Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?

   A. Free market economy
   B. Laissez faire also Laisser faire
   C. Open market economy
   D. Liberal market economy

4. Economics is the study of ?

   A. how society manages its unlimited resource
   B. how to reduce our wants until we are satisfied.
   C. how to fully satisfy our unlimited wants
   D. how to avoid having to make trade-offs

5. Which of the following is a normative statement in economics ?

   A. More spending by the government reduces poverty
   B. Higher taxes lead to less desire to work
   C. The Pakistan’s economy is growing fast relative to other SAARC members
   D. The government should concentrate on reducing unemployment

6. In a planned or command economy, all the economics decisions are taken by the ?

   A. Consumers
   B. voters
   C. government
   D. Workers

7. Normative economics Forms ________ based on ________?

   A. positive statements, facts
   B. opinions personal facts
   C. positive statements values
   D. opinions facts

8. Data are important in economics because _________ and ____________?

   A. they suggest relationships for explanation, allow testing of hypotheses
   B. they can be used for tables, they can be graphed
   C. they can be used in computers governments use them
   D. they provide interesting information can be summarized

9. The economics the central problem is ?

   A. Scarcity
   B. Money
   C. Consumption
   D. Allocation

10. Deepak Lal argues that development economics is dominated by _______ approach that favors government intervention into LDC prices?

    A. dirigiste
    B. Keynesian
    C. Commanding heights
    D. soft budget