If one person’s enjoyment of the benefits of a good does not interfere with another’s consumption of it, the good is said to be ?

Related Mcqs:

1. If the consumption of good by one person does not reduce the quantity available by others and nobody can be easily excluded from consumption, we are referring to a ?

   A. Private good
   B. merit good
   C. public good
   D. abundant good

2. If one person’s consumption of a good diminishes other people’s use of the good, the good is said to be ?

   A. rival
   B. a good produced by a natural monopoly
   C. a common resource
   D. excludable

3. A linear consumption function with a positive slope less than one means that if income increases consumption will ?

   A. fall
   B. not change
   C. fluctuate
   D. increase

4. If the Keynesian consumption function is C = 10 + 0.8 Td when disposable income is Rs1000 total consumption is what ?

   A. 0.8
   B. 800
   C. 810
   D. 0.81

5. Unemployment benefits may increase the unemployment rate because unemployment benefits ?

   A. encourage people to quit their jobs
   B. reduce the cost of job search
   C. enable people to quit searching for work
   D. reduce the benefits of additional job searching

6. If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

   A. 3.1 percent
   B. 3.0 percent
   C. 18.6 percent
   D. 18.0 percent

7. Consumption spending does not include ?

   A. Household’s purchases of food
   B. Households’ purchase of a car
   C. Household’s payment of rent for an apartment
   D. Household’s purchase of stock in any XYZ corporation

8. When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?

   A. less than the efficient level of output
   B. more than the efficient level of output
   C. so that consumer surplus is zero
   D. the efficient level of output

9. Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?

   A. idea
   B. demand
   C. product
   D. service

10. A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?

    A. retailer
    B. wholesaler
    C. distribution channel
    D. logistics