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Question 32

Which of the following statements about public goods is correct?

Options:

A.

Public goods are defined as those goods provided by the state

B.

Public goods are examples of free goods

C.

Public goods are characterized by the free-rider problem

D.

The problem of scarcity does not affect the provision of public goods

Question 33

If the price elasticity of supply for a good over a certain price range is 0.8, the increase in the quantity supplied of that good, following a 10% increase in its price, will be

Options:

A.

0.8%

B.

8.0%

C.

18%

D.

80%

Question 34

Which ONE of the following is NOT an Internal stakeholder?

Options:

A.

Director

B.

Manager

C.

Worker

D.

Investor

Question 35

All of the following are examples of economies of scale except which one?

Options:

A.

Greater opportunities for technological change

B.

The ability to spread some marketing cost over a larger output

C.

The ability to employ specialist managers

D.

Access to cheaper finance

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Exam Code: BA1
Exam Name: Fundamentals of Business Economics
Last Update: Dec 26, 2024
Questions: 468
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