The ______ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency) ?

Related Mcqs:

1. It is fact that there are 24 million left-handed people in the United States however most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this is group Therefore, this groups fails in one of the requirements for effective segmentation Which of the following is most likely to apply in this case ?

   A. actionable
   B. substantial
   C. differentiable
   D. measurable

2. If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?

   A. an import subsidy
   B. a quota
   C. comparative advantage
   D. an export subsidy

3. For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?

   A. U.S oil companies and workers deserved higher incomes
   B. U.S oil was of superior quality and merited higher prices
   C. one should not be too dependent on foreign suppliers of crucial resources
   D. The U.S government needed the quota revenue to balance its budget

4. When countries from large trading blocs like the EU, the size of the bloc has the effect of improving them ?

   A. balance of trade
   B. comparative advantage
   C. balance of payments
   D. terms of trade

5. Vaccinating people for measles, rubella, polio and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of ?

   A. economies of scale
   B. external economies
   C. negative externality
   D. net present value

6. Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?

   A. accurately represent the true inequality of living standards
   B. understate the inequality of living standards
   C. exaggerate the inequality of living standards
   D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services.

7. Which branch of accounting provides information to help the management of a firm evaluate production costs and efficiency ?

   A. Efficient Account
   B. Cost Accounting
   C. Ultra-country economic risk
   D. Outcome risk

8. Those who argue in favor of import protection generally give the impression that such restricted trade will?

   A. decrease the level of national security
   B. provide benefits to some particular industry
   C. provide benefits to the entire nation
   D. not yield welfare losses for the nation

9. David Ricardo’s theory in favor of free trade uses the ideal of ?

   A. absolute advantage
   B. mutual advantage
   C. multilateral advantage
   D. comparative advantage

10. ________ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries ?

    A. trade creation
    B. trade diversion
    C. trade exclusion
    D. trade distortion