Economics Mcqs — Test 150

Oligopoly means:___________?

Normally a demand curve will have the shape:_________?

Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?

In development economics, who said,”Economic growth means more output”.

The economic system with little or no external trade is called: