Introductıon to Economıcs I (ENG) — 2017-2018 Ara Çıkmış Sınav

1. Scarcity refers to ----. Which of the following completes the sentence above? A) the society's inability to produce the goods and services B) the society's ability to produce all the goods and services equal to the society's desires C) the society's inability to produce all the goods and services that people desire to have D) the shortage of production of the goods and services E) the society's ability to produce all the goods and services equal to the society's needs

2. Thinking at the margin principle indicates that the rational decision makers take an action if and only if ---- Which of the following completes the sentence above? A) the marginal benefit of the action is greater than the marginal cost B) the average benefit of the action is greater than the average cost C) the marginal benefit of the action is smaller than the marginal cost D) the total benefit of the action is greater than the total cost E) the marginal benefit of the action is equal to the marginal cost

3. 1. A positive change in technology Il. A tall in labor force III. Purchasing a new machine. IV. A worse than expected weather condition that harms the inputs of production Which of the above statements causes a shift to the right in the country's production possibility frontier? A) I and i aot.sorular. B) I and III C) II and III D) 1, Ill and IV E) II, Ill and IV

4. Under the ceteris paribus condition, which of the development causes a shift of the individual supply curve to the left? A) A decrease in expected future prices of the good that firm sells B) An increase in production technology C) An increase in expected future prices of the good that firm sells D) A decrease in the price of the good that firm sells E) A decrease in input prices

5. Which of the pair listed below is considered as the cause of market failure? A) Presence of efficiency and market power B) Presence of externalities and opportunity cost C) Presence of externalities and market power D) Presence of externalities and perfect competition E) Presence of efficiency and opportunity cost