A) Vilfredo Pareto B) Milton Friedman C) Adam Smith D) John Maynard Keynes
A) Monetarism B) Keynesian economics C) Utilitarianism D) Laissez-faire
A) When markets do not allocate resources efficiently B) Excessive government regulation in the market C) Economic prosperity reached through competition D) Successful coordination of supply and demand
A) Benefits received by individuals not directly involved in a market transaction B) Negative impacts on market efficiency C) Direct financial gains from market exchanges D) Costs borne by those who did not benefit from a transaction
A) Sales tax B) Income tax C) Value-added tax D) Progressive tax
A) Encouraging competition for market efficiency B) Promoting individual rights and liberties C) Maximizing overall happiness or utility in society D) Minimizing government intervention in economic activities
A) Fast food B) Designer clothing C) National defense D) Luxury cars
A) The difference between what consumers are willing to pay for a good/service and what they actually pay B) Tax revenue generated from consumer spending C) Total cost of production for a given product D) Profit margin for producers
A) Market failure B) Pareto efficiency C) Regulatory capture D) Monopoly pricing
A) Government intervention to redistribute wealth B) A strategy to increase overall market competition C) A change that benefits at least one person without making anyone else worse off D) Any policy change that reduces taxes
A) Perfect competition B) Externalities C) Information asymmetry D) Public goods
A) Market demand B) Inflation rate C) Income inequality D) Labor force participation
A) Austrian economics B) Keynesian economics C) Marxist economics D) Neoclassical economics |