Cima surepassexam free Ba1 Questions Attempt by Sylvia q234 vce pdf

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Exam Name:	Fundamentals of Business Economics
Exam Code:	BA1 Dumps
Vendor:	CIMA	Certification:	CIMA Certificate
Questions:	468 Q&A's	Shared By:	sylvia

Question 48

Which ONE of the following conditions would lead to instability over time in the incomes of producers of primary products?

Options:

Both demand and supply tend to be price inelastic

Large shifts in demand combined with supply that is price inelastic

Large supply shifts under the impact of unstable weather conditions

Both demand and supply tend to be price elastic

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Question 49

Which ONE of the following statements does NOT describe a position of profit maximization?

Options:

MC=MR

Price elasticity of demand is less than 1

Point of greatest excess of total revenue over total costs

Total cost curve has the same slope as the total revenue curve

Discussion

Question 50

When the government intervenes in the market economy to correct a market failure

Options:

Economic welfare always increases