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Pregunta 1
Pregunta
What is Privatisation?
Respuesta
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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.
Pregunta 2
Pregunta
Colombia has the longest ongoing civil war of the globe. What type of statement is this?
Respuesta
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Negative
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Normative
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Positive
Pregunta 3
Pregunta
What is
Respuesta
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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.
Pregunta 4
Pregunta
What are implicit costs?
Respuesta
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Monetary costs.
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Opportunity costs forgone.
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The cost of exiting an industry.
Pregunta 5
Pregunta
What does the law of demand state?
Respuesta
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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.
Pregunta 6
Pregunta
What are subsidies?
Respuesta
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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.
Pregunta 7
Pregunta
What is equilibrium in economics?
Respuesta
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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.
Pregunta 8
Pregunta
What does it mean when the answer for an XED question is negative?
Respuesta
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Goods are complementary
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Goods are supplementary
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Goods are Inelastic.
Pregunta 9
Pregunta
What does YED stand for?
Respuesta
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Elasticity
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Income Elasticity of demand
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Quantity of Elasticity Demanded
Pregunta 10
Pregunta
Which is not a reason for why PES is elastic in SR
Respuesta
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Stock
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Time
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Dependency
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