Term 1 - Revision Quiz

An oligopoly occurs when

Which one of the following would not be a stakeholder for a mutual society?

What is the current interest rate (Base Rate) in the UK today?

What is the consequence of minimum wage on employment?

What condition of demand is the following: price of ink increases, demand for printers fall

What is one of the main objectives of a public sector organisation?

the demand that measures the quantity that consumers are actually able to buy at each price is

Financial institutions who act as a means of channeling funds from depositors to borrowers are:

Which of the following is NOT an objective of wealth maximisation?

A movement along the demand curve may be caused by:

An decrease in price, all other things unchanged, leads to:

Which of the following is not an assumption of Perfect Competition?

Which of the following is not a factor of production?

Which of the following represents Abnormal Profit?

A shift in supply will have a bigger effect on output than price if demand is:

Which of the following is not a function of money?

How would you describe a price floor?

The value of the next best alternative that had to be given up to do the action chosen, is the

Which of the following are decisions in an economy decided by supply and demand?

Where should a profit maximizing firm always produce?

Mezzanine Finance consists of which of the following?

The inability of a market to allocate resources in a way that maximizes utility is called

For a normal good with a downward sloping demand curve:

What does the LIBOR stand for?

Which of the following is a central problem of every economy:

If the price elasticity of demand is unitary then a fall in price:

To have any effect on the market, a legal maximum price must be set

Which of the following is by far the largest element of money supply

A contraction in supply occurs when:

a movement along the demand curve, that results is a higher quantity demanded, represents