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Frage 1
Frage
What is Privatisation?
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Government selling industries from public into private.
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Government buys businesses.
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Action used for higher profits.
Frage 2
Frage
Colombia has the longest ongoing civil war of the globe. What type of statement is this?
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Negative
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Normative
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Positive
Frage 3
Frage
What is
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Normal Profit earned by a industry.
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Total revenue minus explicit costs.
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revenue minus implicit and explicit costs.
Frage 4
Frage
What are implicit costs?
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Monetary costs.
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Opportunity costs forgone.
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The cost of exiting an industry.
Frage 5
Frage
What does the law of demand state?
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The inverse relationship between price and quantity demanded.
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Demand is how much people want of a certain good.
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The opposite of supply.
Frage 6
Frage
What are subsidies?
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Money given to a company by the government as a gift.
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Money with a low interest rate.
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Money granted by the government to help an industry so that the price of a good to remain low or competitive.
Frage 7
Frage
What is equilibrium in economics?
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Balance
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Market cleaning point where there are no excesses or shortages.
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The place in the middle.
Frage 8
Frage
What does it mean when the answer for an XED question is negative?
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Goods are complementary
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Goods are supplementary
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Goods are Inelastic.
Frage 9
Frage
What does YED stand for?
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Elasticity
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Income Elasticity of demand
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Quantity of Elasticity Demanded
Frage 10
Frage
Which is not a reason for why PES is elastic in SR
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Stock
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Time
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Dependency
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