Economics Mcqs – MCQs

4553 questions. Click to practice.

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1.When authorities impose taxes on polluters or add extra fees for pesticide usage, these actions represent which of the following?

2.Which of the following best describes pollution caused by car emissions and waste from steel factories?

3.How are land and natural resources classified in economic terms?

4.What is another name for the Genuine Progress Indicator?

5.What is the primary objective of the Montreal Protocol, established in 1987 and reinforced in 1990?

6.What does biodiversity encompass?

7.What does the term 'irreversibility' mean in the context of natural resources?

8.Which of the following effects are caused by deforestation?

9.According to Theodore Panayotou (1993), which of the following is NOT a cause of environmental degradation?

10.What term describes the phenomenon in the 1970s when the surge in North Sea gas export earnings caused the guilder to strengthen, leading to more expensive industrial exports in foreign currencies, heightened foreign competition, and increased unemployment?

11.What is another term for a negative externality?

12.Which scenario best illustrates the concept of the tragedy of the commons?

13.What type of group is the Organization of Petroleum Exporting Countries (OPEC), where members collaborate to control production levels and set prices?

14.What term describes development that satisfies current needs without hindering future generations from fulfilling theirs?

15.Which U.S. company would be most affected by Brazil selling steel at below-market prices in the American market?

16.Which type of quota limits the quantity of goods that can be imported annually without restricting the source country or the authorized importers?

17.Based on the cost-based definition, dumping happens when a company exports a product at a price lower than which of the following?

18.Which type of dumping is associated with the highest possible net welfare loss for the importing country?

19.Which policy restricts outsourcing by mandating that a certain portion of a product's value be manufactured within the country to qualify for sale in the domestic market?

20.What is the impact of a production subsidy provided to a producer competing with imported goods?