Which description fits private goods?
Correct answer C. Rival in consumption and their benefits are excludable
Subject / 2,616 questions
Economics MCQs
Page 55 of Economics multiple-choice questions with answers. Tap an option to check yourself.
Page 55 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 does a metropolitan area consist of?
Correct answer D. A central city and surrounding suburbs and small towns
Which of these is an example of a public good?
Correct answer D. Preservation of wetlands
Advertisement
What forms when metropolitan areas begin to join up with one another?
Correct answer D. A megalopolis
If one person’s enjoyment of a good does not reduce anyone else’s ability to consume it, how is the good described?
Correct answer A. Non-rival in consumption
What does a ghetto typically contain?
Correct answer C. A concentration of one racial group in an area
If an external benefit affects a large number of people, why will private bargaining fail?
Correct answer B. The free-rider problem
What has urban renewal tended to achieve?
Correct answer A. Moved residents but not improved conditions
What is the idea called that, when externalities exist, private parties can sometimes reach the efficient solution without government intervention?
Correct answer A. The Coase theorem
Advertisement
A lake becomes polluted, its fish die and its algae give off unpleasant odours. Which description applies?
Correct answer D. All of the above
Markets can fail to allocate resources efficiently, but why can government also fail?
Correct answer B. The measurement of social damages and benefits is difficult and imprecise
What does thinning of the ozone layer in the upper atmosphere lead to?
Correct answer C. Climate changes
If a proposed change creates winners and losers but the gains are shown to outweigh the losses, how is the change described?
Correct answer C. Potentially efficient
What are the oil supplies of the United States subject to?
Correct answer C. Environmental depletion
A person will keep carrying out an activity until which condition is met?
Correct answer A. Marginal benefit equals marginal private cost
Advertisement
Which statement correctly describes natural resources?
Correct answer D. Finite
Under what condition are externalities a problem?
Correct answer D. Decision makers do not take them into account
In developing countries, which factor tends to discourage the use of birth control?
Correct answer A. Traditional values
The statement that everything affects everything else expresses the principle behind which type of analysis?
Correct answer B. General equilibrium analysis
What was the most striking change that followed each technological revolution?
Correct answer D. A dramatic increase in population