Welcome to your 26th Dec Business Economics Terminologies Quiz 2 CBT TEST
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Which of the following is a variable cost in the short run?
Wages paid to a factory labour
Payment on the lease for factory equipment
Rent on the factory
Interest payments on borrowed financial capital
Micro-economics is concerned with
The economy as a whol
The electronics industry
The study of individual economic behaviour
The interactions within the entire country.
Production may be defined as an act of……………
Creating utility
Earning profit
Destroying utility
Providing services
Price discrimination is a situation when a producer?
Charges different prices in different markets
Charges same price
Charges many prices
All of the above
5. New firms are barred from entering the market in
Perfect competition
Oligopoly
Monopolistic competition
Monopoly
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