Economics Posttest Unit 2 |20 Questions| With Correct Answers.

shifts PPC to the right {Ans: A new technology is invented to produce more food grains in the country.}Anita is an entrepreneur who is interested in starting a hair salon. Anita consulted her friend Ali, who is a businessman, to get some business advice. Ali advised Anita to calculate the total _________she will need to raise. He advised her to choose a __________where she can find skilled labor and plenty of clients. He also advised her to figure out the ________ for every piece of equipment she buys for the salon. {Ans: 1) capital 2) set of services 3) total cost of ownership}How can the government of a nation invest in physical capital? {Ans: -by building highways, railways, and airports -by introducing mandatory physical training in schools -by supplying nutritious food to low-income families}These graphs illustrate the demand of olive oil. Match the non-price determinants of demand with the type of shift in the demand curve they are likely to cause. type 1 non price determinant causing the demand to decrease type 2 non price determinant causing the demand to increase {Ans: answers type 1 a decrease in the price of other vegetable oil and many