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Terminology Online Test MCQs With Answers
Question # 1
The ideal of 'positive liberty' was first conceived by:
Choose an answer
Aristotle
Hegel
Green
Laski
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Question # 2
What is an MMR?
Choose an answer
Immunization
Medical test
Airline
Device
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Question # 3
VPP stands for:
Choose an answer
Value Payable post
Vary Payable post
Value payable please
Value please post
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Question # 4
Which of these is an example of hindsight?
Choose an answer
Reading about the outbreak of WWII and then saying Europe should have stood up to Hitler at the Munich Conference
Thinking you have an important history exam but as there is no future in history you don't bother revising
Planning your day extremely carefully thinking about the potential outcome of each and every event
None of these
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Question # 5
One in which people's economic affairs can take place freely but are subject to some government intervention and regulation:
Choose an answer
Traditional economy
Command economy
No such thing
Mixed economy
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Question # 6
A constitutionally recognized body is-
Choose an answer
Planning Commission
Finance commission
Forward Commission
Farmers Commission
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Question # 7
The public sector includes:
Choose an answer
Investors owing companies
Government ownerships of assets
Market forces of supply of and demand
All trade via barter
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Question # 8
Total revenues neither increase nor decrease When price changes?
Choose an answer
unit elastic
Marginal utility
diminishing marginal utility
Traditional economy
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Question # 9
A governmental agency that has the abbreviation of FDA is what:
Choose an answer
free diet advice
Federal Drug agency
food and drug administration
federal deposit agency
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Question # 10
Who determines price under perfect competition?
Choose an answer
Representative firm
Industry
Normal firm
Government
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Question # 11
For a perfectly competitive firm:
Choose an answer
Price equals marginal revenue
Price is greater than marginal revenue
Price equals total revenue
Price equals total cost
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