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Which of the following goods is most likely to be exchanged in a market of local rather than national scope?

A. University professors

B. Computer components

C. Building materials

D. Jet airplanes

Correct Answer : C.


Building materials are traded in locally distinct markets b/c it is very costly to trade it on the national level.}

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  1. In case of monopoly, TR curve rises at a:
  2. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  3. Income-demand curve shows:
  4. With the decrease in marginal valuation of a specific commodity, the price offered by the people:
  5. In short run, a firm would remain in business as long as which one of the following of cost is covered?
  6. Which describes a competitive market?
  7. In monopolistic competition, because of difference in choices, the firm charges:
  8. Demand is consumers:
  9. The effect of consumer boycotts usually is:
  10. In long run, a firm can change:
  11. The difference between accounting profits and economic profits is:
  12. Loanable funds theory of Interest was developed by:
  13. If less is demanded at the same price or same quantity demanded at a lower price, it is a case of:
  14. The goods sold by firms under monopolistic competition are technological as well as:
  15. In the case of an inferior good, the income effect:
  16. Which of the following is not a U shaped curve:
  17. The products, under monopolistic competition are differentiated, yet they are:
  18. In the long run:
  19. In case of economic bads, an IC can be :
  20. In respect of which of the following category of goods is consumers surplus highest?
  21. If in the long run, output increases in the same proportion as increase in all the input in the given…
  22. Identify the factor, which generally keeps the price elasticity of demand for a commodity low:
  23. The price consumption curve (PCC) for commodity X is the locus of points of consumer equilibrium resulting…
  24. The Chamberline model recognizes mutual:
  25. Market allocation fundamentally relies upon:
  26. The output where TC = TR & AC = AR:
  27. Price mechanism has also given the name:
  28. Which is the correct statement?
  29. The total utility is gained by consuming:
  30. The marginal revenue of a perfectly competitive firm is: