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Economics Questions and Answers

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Economics Questions and Answers

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AD–AS model
 Explain briefly whether the following statement is TRUE or FALSE. No shortage means no scarcity. View Answer
Absolute advantage

Aggregate demand
 What are the economic resources? View Answer
Aggregate supply

Average cost  An example of an economic entity is a: a. town. b. business. c. non-profit hospital. d. church. View Answer

Balance of trade
 Economics is mainly about a. efficiency only b. resource allocation c. how to best use money d. deciding
View Answer
Barriers to entry who is affected by taxation
Break-even (economics)
 What is a market structure? View Answer
Business cycle

Buyer decision process  List the two branches of economics. View Answer
Capital (economics)

Comparative advantage  Who has given the concept of "wage fund theory"? a) J.S. Mill b) Marshall c) Ricardion d) Jevons View Answer

Consumer behavior

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 Consumer choice  In the context of economics, define the following term: autonomous consumption. View Answer
Consumer price index
 Economics is a discipline that is divided into two broad branches, which are they? View Answer
Consumer protection

Convergence (economics)
 What are the expected and the empirical relationships between economic activity and security markets? View Answer
Cost

Currency appreciation and

 A car and riding mower cost $16,200. If the value of the car is seven times the value of the mower, how
View Answer
depreciation much is the car worth?

Deadweight loss  Financial management deals with the maintenance and creation of economic value or wealth. a. True. b.
View Answer
False.
Demand

Demand curve  Explain what consumer welfare in economics means. View Answer
Depreciation
 "Willingness to Pay" and "Ability of Pay" are most related to which fundamental question about a
Diminishing returns View Answer
competitive market system? a. Who is to receive the output? b. What will be produced? c. How is the...
Division of labor
 In the context of Economics, define the following term: Consumption function. View Answer
Economic equilibrium

Economic growth  Macroeconomics deals with: a) the behaviour of firms b) the activities of individual units c) economic
View Answer
Economic model aggregates d) the behaviour of the electronics industry

Economic policy
 In economic terms, define what money is. View Answer
Economic surplus
 Which of the following is a topic of macroeconomics? A) why nations have different rates of growth B) what
Economic theory View Answer
causes inflation and what can be done about it C) why unemployment periodically reaches ve...
Elasticity (economics)
 Which theory is generally included under microeconomics? A) Price Theory B) Income Theory C)
Exchange rate View Answer
Employment Theory D) None of the above.
Federal Reserve System

Fiscal multiplier
 According to economists why do students tend to study? View Answer

Fiscal policy

Fixed cost

Foreign exchange market  Previous 1 2 3 ... 11586 Next 

Free market

GDP deflator

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 Gross domestic product

IS–LM model

Income elasticity of demand

Indifference curve

Inflation

Internal rate of return

Investments

Invisible hand

Keynesian economics

Labour economics

Long run and short run

Macroeconomics

Marginal cost

Marginal product of labor

Marginal propensity to consume

Marginal revenue

Marginal utility

Marginalism

Market failure

Market power

Market structure

Microeconomics

Modern portfolio theory

Modified internal rate of return

Modigliani–Miller theorem

Monetary policy

Monetary policy of the United

States

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 Money

Money market

Money multiplier

Money supply

Monopolistic competition

Monopoly

Nash equilibrium

Natural monopoly

Oligopoly

Open market operation

Opportunity cost

Organization

Organizational structure

Perfect competition

Personal finance

Phillips curve

Price ceiling

Price discrimination

Price elasticity of demand

Pricing

Production function

Production–possibility frontier

Productivity

Profit (economics)

Profit maximization

Promotion in marketing

Public good

Public relations
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 Quantity theory of money

Real interest rate

Real versus nominal value

(economics)

Real wages

Research and development

Reserve requirement

Return on investment

Returns to scale

Revaluation of fixed assets

Revenue

Scarcity

Sunk costs

Supply and demand

Taxation in the United States

Total cost

Total revenue test

Trade

Unemployment

United States Treasury security

Utility

Utility maximization problem

Variable cost

Workforce productivity

Working capital

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