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Subject - Economics:

Macroeconomics

MCQ - 181-4191

Question:

In the last 20 years, firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras. This trend is an example of

  1. how central planners dictate which cameras are produced.
  2. the market system answering the question of “how” cameras should be produced.
  3. the market system answering the question of “what” cameras should be produced.
  4. the market system answering the question of “how” cameras should be produced.
  5. how firms fail to respond to improvements in technology and changes in consumer tastes.

Correct Answer: C

Explanation:

The free market responds to changes in consumer tastes, technology, and prices to produce “what” is most wanted by society.

Record Performance

269 MCQ for effective preparation of the test of Macroeconomics of Economics section.

Read the MCQ statement: In the last 20 years, firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras. This trend is an example of , keenly and apply the method you have learn through the video lessons for Macroeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 181-4191.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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