Accounting | Auditing | Commerce | Economics | Finance | Law | Statistics Finance → Finance Test MCQs from 6 to 10 Page: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 6. According to the Efficient Market Hypothesis, which from the following is NOT true? […]

Economics → Quiz → Factors of Production Inputs Inputs are commodities or services that are used to produce goods and services. Outputs An economy uses its existing technology to combine inputs to produce outputs. Outputs are the various useful goods or services that result from the production process and are either consumed or employed in further production. […]

Economics → Quiz → Forms of Economy THE THREE FORMS OF ECONOMY 1. Market Economy A market economy is one in which individuals and private firms make the major decisions about production and consumption. This is also called a laissez-faire economy. In other words, a laissez-faire economy is one in which the government keeps its hands off […]

Economics → Quiz → Branches of Economics BRANCHES OF ECONOMICS The subject of Economics is today divided in two major subfields: Microeconomics, and Macroeconomics Microeconomics Microeconomics is the branch of economics which is concerned with the behavior of individual entities such as markets, firms, and households. Adam Smith is considered the founder of Microeconomics. Macroeconomics Macroeconomics is […]

Economics → Quiz → Economics Definition Definition (Economics) Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Since, resources are limited, and our wants are unlimited, it is important that an economy must use its resources efficiently. Thus, the two fundamental ideas in the definition are […]