Tag: macroeconomic theories

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Questions Related to macroeconomic theories

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

Which of these is not a feature of a Capitalist economy?

  1. Right of private property

  2. Social justice

  3. Profit maximization

  4. Consumer sovereighty
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A capitalist economy is characterized by private property, profit motive, and consumer sovereignty. Social justice is typically a goal of socialist or mixed economies, not a defining feature of pure capitalism.

Multiple choice economics basic concepts of national income macroeconomic theories some basic concepts of macroeconomics introduction to macroeconomics

A refrigerator operating in a chemist's shop is an example of ______________.

  1. free good

  2. final good

  3. intermediate good

  4. consumer good
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A refrigerator in a chemist's shop is used as a capital good to store medicines for business purposes, making it an intermediate good in the context of the shop's operations.