The market system consists of planning by__________________?

Related Mcqs:

1. If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?

   A. The higher price in market A
   B. The higher price in market B
   C. The same Price in both markets
   D. Cannot tell which price will be higher

2. The Federal Reserve Bank regulates the money supply by__________________?

   A. establishing minimum reserve requirements of member banks
   B. the discount rate it charges member banks
   C. buying and selling government securities
   D. all of the above

3. Collective behavior is often precipitated by__________________?

   A. anomaly
   B. rapid social change
   C. deviant behavior
   D. fear of the future

4. The smallest percentage of the poor consists of_______________?

   A. the elderly
   B. women
   C. minorities
   D. children

5. A minority group consists of______________?

   A. fewer people than the majority group
   B. people distinguished by their physical or cultural traits
   C. the hostile subcultures in the society
   D. the most recently settled immigrants

6. A metropolitan area consists of__________________?

   A. several small towns
   B. a central city and surrounding suburbs and small towns
   C. the city only
   D. a city with a subway system

7. The Micropolitan Statistical Area consists of_______________?

   A. one urban cluster of at lest 10,000 but less than 50.000 population
   B. one city of at least 50,000 population
   C. one city of at least 1 million population
   D. a region of the country

8. The participants in a market economy cannot pursue their goals freely because they are affected by_________________?

   A. the ratio of gold to paper money
   B. economic laws
   C. prices and incomes
   D. the religious institution

9. Some of the advantages of a market economy include ?

   A. all participants get some satisfaction
   B. scarce resources are put into goods that are in demand
   C. economic output is distributed to those who can pay the price
   D. all of the above

10. The participants in a market include_____________?

    A. households
    B. firms
    C. governments
    D. all of the above