Business Economics

Business Economics

University

10 Qs

quiz-placeholder

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Business Economics

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Assessment

Quiz

Business

University

Hard

Created by

Lalita Rani

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The knicked demand curve explains

Price rigidity

Price flexibility

Demand rigidity

Demand flexibility

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Imperfect compitition was introduced by

Marshall

Chamberlin

Keynes

None

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which the number of competing firms are relatively small

Monopoly

Oligopoly

Monopsony

Perfect competition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Demand is a function of

Price

Cost

Product

Firm

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The term group equilibrium is related to

Monopolistic competition

Oligopoly

Duopoly

Perfect competition

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation where there is only one buyer

Monopoly

Oligopoly

Monopsony

Perfect competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Elasticity of demand measure

Sensitivity of sales to change in a particular causal factor

Sensitivity of production to change in a particular cost

Value of price and cost

Volume of product

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