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