Quiz 2 - Quiz 2 1 A market can be regarded as an oligopoly...

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Quiz 2 1. A market can be regarded as an oligopoly when A. information in the market is not perfect. B. a few sellers have a significantly larger market share than the others. C. the products sold in the market are daily necessities. D. the government controls the entry of sellers into the market. 2. Which of the following activities are classified as production in economics? (1) a man delivering newspapers (2) a girl sewing her own dress (3) a boy selling pirated compact discs (CD) A. (1) and (2) only B. (1) and (3) only C. (2) and (3) only D. (1), (2) and (3) 3. When division of labour is practised, workers will have a ______occupational mobility because ______. A. higher . .. the labour productivity is raised B. higher . .. the capital goods are used more fully C. lower . .. work becomes dull and monotonous D. lower . .. workers are only trained for a particular skill 4. Which of the following is classified as land in economics? A. soil with chemical fertilizers added to it B. trees in a plantation area C. underground coal reserves D. a piece of cultivated land 5. In order to attract more Mainland professionals to work in Hong Kong, some
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This note was uploaded on 11/03/2011 for the course ECON 101 taught by Professor Buddin during the Spring '08 term at UCLA.

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Quiz 2 - Quiz 2 1 A market can be regarded as an oligopoly...

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