Which language is spoken by the largest number of people in Pakistan?
Correct answer D. Punjabi
Subject / 2,616 questions
Economics MCQs
Page 11 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 11 of 131
- Miscellaneous Economics 737
- Basic of Economics 430
- Markets, Efficiency And The Public Interest 167
- Agriculture & Irrigation System of Pakistan 126
- Market 87
- Macroeconomic Issues and Analysis 75
- Money, Interest Rates And Output 73
- Introduction To Economics 70
- Population And Development 62
- Profit Maximizing Under Perfect Competition And Monopoly 56
- Income Inequality 52
- Non-Tariff Trade Barriers 48
- Aggregate Supply, Unemployment And Inflation 45
- Natural Resources and the Environment Toward Sustainable Development 44
- Costs , Supply And Perfect Competition 44
- Human Capital 42
- Labour Market 39
- Monopoly 35
- Long Term Economic Growth 30
- Inflation & Productivity 30
- Regional Trading Arrangements 29
- Characteristics and Institutions of Developing Countries 24
- Oligopoly 23
- Consumer Theory vs. Real Consumers 20
- Applied Microeconomics 20
- Alternative Theories Of The Firm 20
- Public Goods 20
- Balance of Payments, Aid and Foreign Investment 19
- Prices, Wages & Taxes 19
- Comparative GDP 19
- Budget Deficits And The Trade Balance 18
- Macroeconomic Policy Tools 18
- Asymmetric Information 17
- Application of Economics 16
- Production Factors 16
- Monopoly & Competition 15
- Capital Formation, Investment Choice, Information Technology, And Technical Progress 15
- Monetary, Fiscal And Incomes Policy, And Inflation 15
- Average And Total Cost 14
- Poverty, Malnutrition, And Income Inequality 12
- Monetary Union 10
Which province of Pakistan is the most thinly populated?
Correct answer C. Balochistan
In which year was the first census held in the Subcontinent?
Correct answer A. 1881
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In which year was Pakistan’s fifth census held?
Correct answer B. 1998
What death rate per thousand people has been reported for Pakistan in commonly cited estimates?
Correct answer D. 7.1 persons
What is a market called when a few firms dominate the industry?
Correct answer D. Oligopoly
What does the kinked demand curve theory assume?
Correct answer C. An increase in price by the firm is not followed by others
What does game theory assume about firms’ behaviour?
Correct answer A. Firms consider the actions of others before deciding what to do
What are firms in an oligopoly likely to try to do?
Correct answer D. Try to be a price maker
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Which statement about cartels is true?
Correct answer C. There may be an incentive to cheat
The hand tools market, covering items such as hammers and screwdrivers, is dominated by Draper, Stanley and Craftsman. How is this market best described?
Correct answer C. An oligopoly
If oligopolists collude and successfully form a cartel, what is the market outcome?
Correct answer A. The same as if it were served by a monopoly
As the number of sellers in an oligopoly increases, what does the market increasingly resemble?
Correct answer B. A competitive market
When an oligopolist sets its output on its own to maximise profit, how does its price compare with monopoly and competitive prices?
Correct answer B. Less than the price charged by a monopoly and more than the price charged by a competitive market
What is it called when interacting oligopolists each pick their best strategy, given the strategies chosen by all the others?
Correct answer B. Nash equilibrium
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Why is collusion hard for an oligopoly to sustain?
Correct answer D. All of these answers
ABC Publishing sells an economics textbook and a study guide, both with zero marginal cost. Raheel values the text at Rs75 and the guide at Rs15; Mariam values the text at Rs60 and the guide at Rs25. If ABC ties (bundles) the two products, what combined price should it charge?
Correct answer D. Rs 85
What are laws that make it illegal for firms to conspire to raise prices or cut production commonly known as?
Correct answer D. Antitrust laws
In a cartel, each member firm may be assigned a fixed amount of output. What is this allocation called?
Correct answer B. Quota
What does the kinked demand curve theory assume about firms?
Correct answer D. Firms are competitive