VOCABULARY TEST : ECONOMICS (03)

MICROECONOMICS

ADVANCED LEVEL

I am greatly indebted to [and hope I be forgiven for my pillaging and pilfering from] an excellent French website, namely, se-former.org... (now closed down)... Forsooth, I have made very few changes and contributed very little of my own, beyond adding a fourth false alternative answer...

Please do not click the answer button before you have thoroughly studied the question and deliberated on your own choice !!

 

 
    01 --  According to microeconomic theory, the aim of economic agents is to maximise utility given a fixed ............... .

a. personal preference
b.
fiscal aggregate
c.
total stabilizer
d.
personnel training
e.
budget constraint

  

02 --  Under perfect competition, an individual firm has an infinite ............. .

a. demand curve
b.
impact on prices
c. trading curvature
d.
cost function
e.
supply curve

  

03 --  If the demand for its product rises, a firm can expand its supply along its ............... .

a. average cost curve
b. declining reliability curve
c.
marginal cost curve
d.
nominal price curve
e.
marginal utility curve

  

04 --  The various combinations of two goods which provide an agent with the same utility are all on the same ............... .

a. supply curve
b.
happiness curve
c. dissatisfaction curve
d.
indifference curve
e. satisfaction curve


  

05 --  If price changes do not affect the demand for a good, then its demand is ............... .

a. natural
b.
inelastic
c.
irrational
d. illegitimate
e.
predictable

  

06 --  EMU is meant to reduce transaction ............... on exchanging E-11 currencies.

a. commissions
b.
costs
c.
bills
d.
charges
e. rebates

  

07 --  Product ............ is one way to try to reduce exposure to competition.

a. differentiation
b.
specification
c.
distinction
d. suspension

e. clarification

  

08 --  The interaction of demand and supply in one market is said to produce a ............... .

a. steady state
b.
fixed price
c.
balance sheet
d. savings adjustment
e.
partial equilibrium

  

09 Large distribution networks tend to create ............... in the supply of certain utilities, like water, electricity or gas.

a. strong competition
b. continuous
innovation
c.
natural monopolies
d. unwanted competition
e. exorbitant prices


  

10 --  Increasing the capital equipment employed per worker tends to raise ............... productivity, but not necessarily the total factor productivity.

a. marginal profit
b. foreign investment
c.
partial factor
d. labour

e. wages

                 

11 --  Firms will tend to expand output if they benefit from economies of ............... .

a. rate
b.
scale
c.
diversity
d.
size
e. impact

                 

12 --  If a firm uses two factors of production, and the quantity of one factor is held constant, then the increases in the second factor will lead to ............... .

a. diminishing returns
b. widespread discontent
c.
constant returns
d. tax evasions
e.
accelerating output

                 

Bu Test hazırlanırken, sayfa başında anılan Fransız web sitesindeki benzer malzeme temel alınmış, ancak önemli ölçekte değişikliğe de gidilmiştir. Alıntılarda, günahıyla ve sevabıyla buradaki sayfamızın kaynak gösterilmesini rica ederim.

         

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