SCHOLAR NAME: POOJA PRADHAN
STUDENT NUMBER: 11505769
Multiple Choice Quiz
ECO130 ANALYSIS NUMBER 1 (201330)
(NOTE there are 20 multiple choice questions. You should set aside yourself 1 ) 5 minutes every multiple decision question (i. e. an overall total of 31 minutes). This is simply not an open publication exam. Pick the best answer coming from a), b), c), d) or e). Q1 Economics is the analyze of
a) the reveal market as well as its effect on customers and businesses b) money and how it can be used by contemporary society
* c) unlimited wishes and limited resources
d) unlimited methods and limited wants
Q2 Which of the following would not illustrate opportunity cost? * a) Basically study I need to give up my own sport and hobbies.
b) If I buy a new computer system I must give up spoiling myself with " goodiesвЂќ. c) The more We spend at this point the more We are likely to use in the future. d) If I spend more in the car the less Let me have to invest in other recreation. Q3 The ability cost of gonna university can be
a) the money spent at college or university including most fees 2. b) the power gained by having a university degree
c) dollar worth of all alternatives
d) the next best alternative of the investment property
Q4 Which usually of the following is NOT a factor of production?
5. c) economic asset
Q5 An economic style indicates that a rise in profits will result in buyers purchasing fewer fast food dishes, ceteris paribus. " Ceteris paribusвЂќ means a) various other relevant elements like customer incomes must be held regular b) customers need for foodstuff remains precisely the same regardless of price * c) the theory is usually widely accepted but can not be accurately tested d) food prices need to first end up being...