Economics - Practice Test | ExamPrepSheets

(A) To ensure the economic progress of the people

(B) To run a business

(C) To satisfy unlimited wants with limited means

(D) To mobilize resources and use them

(C) To satisfy unlimited wants with limited means

(A) marginal productivities

(B) marginal utilities

(C) marginal subsidies

(D) factor quantities

(A) marginal productivities

(A) Competitive monopoly

(B) Oligopoly

(C) Perfect competition

(D) All of the above are types of market structures

(A) Competitive monopoly

(A) OPEX

(B) ODEX

(C) PDE

(D) None of these

(C) PDE

(A) will be the first to leave the industry, if the price falls

(B) will be the last to leave the industry, if the price falls

(C) will be the first to reduce price to continue its business

(D) none of the above

(A) will be the first to leave the industry, if the price falls

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