The participants in a market include_____________?

Related Mcqs:

1. Utilitarian organizations include_____________?

   A. the military prisons and mental hospitals
   B. businesses and industries of all types
   C. professional and religious organizations
   D. all of the above

2. Proposed political party reforms in the U.S include_____________?

   A. greater ideological division
   B. increasing numbers of Independents
   C. greater freedom of action for candidates
   D. adopting a winner-takes -all principle

3. 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

4. Participants in the market system________________?

   A. are totally free to pursue their goals
   B. are affected by prices and incomes
   C. try to maximize their worth
   D. try to maximize their labor

5. 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

6. In a free market the combination of products produced will be determined by ?

   A. Market forces of supply and demand
   B. The government
   C. The law
   D. The public Sector

7. The mechanism of the market system provides for________________?

   A. the content and flow of goods and services to take place without any fixed plan
   B. buyers and sellers not needing to know how the market works in order to act in it
   C. the economy to function so that all participants derive some satisfaction
   D. all of the above

8. Which of the following groups determine market transactions ?

   A. Households firms and central authorities
   B. Producers distributors consumers
   C. The executive legislative and judicial departments
   D. none of the above

9. Some of the restrictions as work in a market include________________?

   A. prices of goods and services
   B. income for labor
   C. prices of resources for firms
   D. all of the above

10. How are decisions about production made in a market economy ?

    A. By a command system
    B. According to tradition
    C. Through a price system
    D. By executive fiat