Economics Final Exam Revision

Increased input costs can cause a _________ in supply.

• Increase

• Decrease

• Demand

Which of the following market segments includes a persons nationality?

• Psychographics

• Behavioural

• Geographics

• Demographics

The UAE is a _________ economy.

• Traditional

• Mixed

• Market

• Monopoly

Which type of economy is also known as centrally planned?

• Traditional

• Market

• Mixed

• Command

Which of the following is a factor of production?

• Price discrimination

• Scarcity

• Market Equilibrium

• Enterprise

Price discrimination also known as "perfect price discrimination" is.......

• First degree

• Second degree

• Third degree

DEWA operates in a _________ market

• Perfect

• Monopoly

• Imperfect

Which term best describes when countries rely on each other for goods/services?

• Market Equilibrium

• Trade

• Economic interdependence

• Economic scarcity

"Consumers can be discriminated on based on quantity of product consumed"

• True

• False

Which two factors are necessary for scarcity to take place?

• Limited wants and needs and limited resources

• Unlimited wants and needs and limited resources

• Unlimited resources and limited wants and needs