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ECO162 Flashcards | StudBud

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ECO162

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A#quiz#for preparation #for final exam #presentation#boat noodle

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Questions 10

Answers

1
what type of price elasticity of supply below
elastic supply
inelastic supply
unitary
perfectly inelastic
2
what are the PPC diagram for boat noodle
dont have a diagram
linear
concave
convex
3
The following statement are price elasticity of demand except:
easier to find subtitute good
complementary goods
risk taking
time
4
all of them are basics economics concepts except:
scarcity
taxes
oppurtunity cost
choice
5
What are the advantage of maximum price@ceiling price
consumers pay higher price
consumers pay lower price
wastage occurs
the excess stock has to dispose
6
Boat Noodle is categorized:
inelastic demand,elastic supply
elastic demand, inelastic supply
7
which is the definiton of supply
total amount of a good that all the seller will offer
the ability to pay for a good at a given price and time
total amount of good that all buyers would choose
willingness of ability to sell a quantity of good on time
8
What are the factor that influence change in quantity demanded for goods
expectation of future price
price of goods itself
price of related goods
price of substitute goods
9
which of the following statement below is TRUE stated the determinants of demand
choice,oppurtunity cost,income, taxes
income ,expectation, technology,taxes
taxes, price of inputs,technology ,subsidies
income, price of other good,taste and taxes
10
Below are factors that influence the change in supply, EXCEPT
Price itself
Weather
Government taxes
Technology