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Question 1 of 15
Allocative and productive efficiency are easily achieved in the long run under a(an):
A Level Economics Quiz 2020 Part 2
15 QuestionsMultiple ChoiceFree Practice
About this quiz
This A Level Economics Quiz 2020 Part 2 quiz contains 15 multiple choice questions designed to help you revise and test your A level Economics Quizzes knowledge. Select an answer for each question and click “Submit Answer” to see instant feedback. Take your time and try to score as high as possible!
Description
Robins, an economist, defined economics as the study of human behavior as a relationship between given ends and scarce means which have alternative uses. Economics offer an individual an insight of his own spending habits and values
Just like Shamari Benton, the concept of economics for managers helped him to understand how decisions are infused with economic calculations and principles. Students must also note that the key to having a good grade is not just studying a subject but also doing as much active work as possible. It is always vital for them to attempt past questions. With regard to this, we put together 15 questions from Advance level Economics 2020. The questions are based on the topics “demand, firms and so on……
Answer these questions frequently until you are well convinced that you are now prepared for the upcoming June session or any examination. You can also visit our website to gain more materials or try more quizzes on economics
Good luck!!!
Robins, an economist, defined economics as the study of human behavior as a relationship between given ends and scarce means which have alternative uses. Economics offer an individual an insight of his own spending habits and values
Just like Shamari Benton, the concept of economics for managers helped him to understand how decisions are infused with economic calculations and principles. Students must also note that the key to having a good grade is not just studying a subject but also doing as much active work as possible. It is always vital for them to attempt past questions. With regard to this, we put together 15 questions from Advance level Economics 2020. The questions are based on the topics “demand, firms and so on……
Answer these questions frequently until you are well convinced that you are now prepared for the upcoming June session or any examination. You can also visit our website to gain more materials or try more quizzes on economics
Good luck!!!
Progress0 / 15 answered
2
Question 2 of 15
This question is based on the following features of a firm:
-No advertising
-Many buyers and sellers
-No barriers to entry and exit
-profit maximization
Identify the market structure that is best described by the above features
3
Question 3 of 15
This question refers to figure 3 below which shows the demand curve for a firm in Oligopoly market
Price elasticity at 0P indicates that there is:
4
Question 4 of 15
If TC exceeds TR by the least amount, it implies that the firm is:
5
Question 5 of 15
This question is based on the table below which shows the output, costs, and revenue of a hypothetical firm.
From the table, it can be concluded that the firm is:
6
Question 6 of 15
The main features for firms to operate in the monopolistic market is:
7
Question 7 of 15
The proportion of labour costs to total costs is a determinant of:
8
Question 8 of 15
From the above figure, total earnings minus transfer earnings result in the area
indicated by letter:
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Question 9 of 15
Which of the following theories explains the current rate of savings as the main
determinant of the supply of loanable funds?
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Question 10 of 15
One of the roles of profit in an economy is that:
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Question 11 of 15
Including only the values of final output in the calculation of national income helps to avoid:
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Question 12 of 15
The loss in the value of capital assets over time refers to:
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Question 13 of 15
This question relates to the formula below.
The formula is used for calculating:
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Question 14 of 15
The value of all goods and services produced in an economy in a given period of time is known as:
15
Question 15 of 15
Autonomous dissaving is represented by the value
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