Costs – Page 2 – HI MCQ!

A marketplace in which a final goods or service is bought and sold is called ___?

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A higher _____ index represents inequality in income distribution?

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Which of the following is NOT a central economic problem, solved by the Production Possibility Curve?

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Which of the following is not included in the factors of production?

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What is the value of all tangible resources such as raw materials and labour that are used in the production process called?

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An economic condition when there is one buyer and many sellers is called _____?

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Which amongst the following is NOT one of the four main factors of production?

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What is the name given to the graph that shows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level in economic terms?

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The _____ shows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level?

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Which economist gave the theory of Opportunity cost?

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