International Trade 1
Quiz by Alireza Khorshidi
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- Q1
What is Not a Factor of Production in Economics?
Land
Capital Goods
Labour
Wealth
20s - Q2
What year "The Wealth of Nations" was written?
1776
1716
1777
1767
20s - Q3
What is Not a type of Economic System?
Liberalism
Capitalism
Communism
Socialism
20s - Q4
Goods and services are sold in a free market to those who can pay for them. What type of economics?
Liberalism
Socialism
Communism
Capitalism
30s - Q5
Some free market and some government allocation. What type of economics?
Communism
Socialism
Liberalism
Capitalism
30s - Q6
No country is purely capitalist; no market is truly free.
truefalseTrue or False20s - Q7
_____ exists when a large number of sellers produce products that are very similar but are perceived by buyers as different.
Monopolistic Competition
Oligopoly
Monopoly Competition
Perfect Competition
20s - Q8
Oligopoly occurs when there is only one seller for a good or service, and that one seller controls the total supply of a product and the price.
falsetrueTrue or False20s - Q9
_____ usually exists in industries that produce products in the areas of oil and gas, tobacco, automobiles, aluminum, and aircraft.
Monopoly
Monopolistic
Oligopoly
Perfect Competition
20s - Q10
What degree of "Barriers to Entry" is seen in Monopoly?
Blocked
Very easy, No barriers.
Significant barriers.
Relatively easy.
20s