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Free CIMAPRA17-BA1-1 Exam Braindumps (page: 43)

Page 43 of 118
PDF with 468 Questions

Which of the following can be efficiently allocated between competing uses by the price mechanism?

  1. Private goods
  2. Public goods
  3. Free goods
  4. Externalities

Answer(s): A



There are waiting lists and shortages of a product.
Which ONE of the following statements explains the cause of this?

  1. A price floor (minimum price) has been set above free market price
  2. A price ceiling (maximum price) has been set above free market price
  3. A price floor (minimum price) has been set below free market price
  4. A price ceiling (maximum price) has been set below free market price

Answer(s): D



All of the following are barriers to entry into an industry except which one?

  1. The existence of significant economies of scale
  2. Important production processes are subject to patents
  3. Low price elasticity of demand for the product
  4. Extensive product differentiation in the industry

Answer(s): C



All of the following would tend to lead to an industry being dominated by a small number of firms except one.
Which ONE is the exception?

  1. Significant economies of scale in production
  2. The existence of entry barriers to the industry
  3. High initial capital costs in production
  4. Extensive consumer knowledge of products and prices

Answer(s): D



Page 43 of 118



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