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CIMA Updated BA1 Exam Questions and Answers by sylvia

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CIMA BA1 Exam Overview :

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:

A.

Both demand and supply tend to be price inelastic

B.

Large shifts in demand combined with supply that is price inelastic

C.

Large supply shifts under the impact of unstable weather conditions

D.

Both demand and supply tend to be price elastic

Discussion
Question 49

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

Options:

A.

MC=MR

B.

Price elasticity of demand is less than 1

C.

Point of greatest excess of total revenue over total costs

D.

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:

A.

Economic welfare always increases

B.

The problem of government failure may result

C.

In all cases the market mechanism ceases to function

D.

The intervention always creates a surplus

Discussion
Question 51

In 201X the market for a crop suffered high prices. According to cobweb theory what was likely to have happened in the following year?

Options:

A.

Price will stay high as farmers restrict supply to make extra profits

B.

Price will fall because the high price in 201X gave an incentive to farmers to plant more and flood the market with extra supply

C.

Price will fall as consumers find cheaper substitutes to the high-priced crop

D.

Price will rise further as buyers stockpile the new harvest to avoid suffering higher prices for a second year

Discussion
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