A firm that charges different customers different prices for the same product is engaging in what?
Correct answer C. Price discrimination
Subject / 2,616 questions
Economics MCQs
Page 121 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 121 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
What is privatisation the transfer of?
Correct answer A. Government businesses to the private sector
What does deregulation involve the government doing?
Correct answer C. Removes barriers to entry and minimum product quality standards
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In country X, consumers can now buy electricity from a gas company and gas from an electricity company. What is this called?
Correct answer B. Making markets contestable
What do economists mean by regulatory capture of the firms being regulated?
Correct answer D. Persuade the regulator to operate in the industry's interests
In which of these countries did car ownership per thousand people fall between 1990 and 1999?
Correct answer A. USA
What does the scientific method require?
Correct answer A. The scientist be objective
Car use generates external benefits that are ____ and external costs that are ____. Which pair fits?
Correct answer A. Low; high
Which statement about the circular-flow diagram is correct?
Correct answer C. The factors of production are owned by households
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On what proposition are antimonopoly laws based?
Correct answer A. Competition is the best way to achieve efficiency
Which statement best describes economic models?
Correct answer A. Built with assumptions
What kind of firms combine in a conglomerate merger?
Correct answer C. Firms producing unrelated products
In which case is the simplifying assumption most reasonable?
Correct answer C. To model the benefits of trade, an economist assumes that there are two people and two goods
Why are sales staff often eager to sell extended warranties?
Correct answer C. They are paid commission on each extended warranty they sell
Which of these sources is most likely to yield scientific evidence about an economic theory?
Correct answer D. An economist permanently employed at a leading university analysing the impact of bank regulations on lending to small businesses
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In the UK electricity industry, some parts are a ____ while other parts are ____. Which pair completes the statement?
Correct answer A. Natural monopoly; potentially competitive
Which of these is NOT a factor of production?
Correct answer D. Money
Antimonopoly legislation aims to ____ competition, whereas market regulation is used to ____ competition. Which words complete the sentence?
Correct answer B. Promote; restrict
What can be said about points lying on the production possibilities frontier?
Correct answer C. Efficient
According to the theory of the second best, what price should a privatised industry charge when perfect competition is absent?
Correct answer A. P = MC + Z