#1
Which of the following is NOT a factor of production?
#2
What does GDP stand for?
#3
What does CPI stand for in economics?
#4
Which of the following is NOT a characteristic of a perfectly competitive market?
#5
What is the economic term for a situation where the price of a good or service exceeds its marginal cost?
#6
Which economic concept refers to the total value of all goods and services produced within a country's borders in a specific time period?
#7
What is the economic term for a market situation where there is only one seller and many buyers?
#8
What economic concept measures the responsiveness of the quantity demanded of a good to a change in its price?
#9
Which of the following is NOT a fiscal policy tool?
#10
What is the economic term for the total value of a company's output minus the value of intermediate goods used in production?
#11
Which economist is known for his theory of comparative advantage?
#12
What economic term describes the maximum amount of goods or services that can be produced with a given set of resources?
#13
What economic concept suggests that individuals can gain from trade by specializing in the production of goods for which they have a comparative advantage?
#14
Which economic concept states that as more of a good is consumed, the additional satisfaction gained decreases?
#15