Toggle sidebar menu
Learn Economics
Teach High School
Teach University
About Us
We're Hiring
Donate
My Account
Contact Us
Join Our Community of Econ Nerds
Follow us
Learn Economics
Search
Courses
See all
Principles of Economics: Microeconomics
Principles of Economics: Macroeconomics
Mastering Econometrics
Money Skills
Development Economics
Series
See all
Everyday Economics
Nobel Conversations
Economists in the Wild
Women in Economics
Econ Duel
Interactive Practice
See all
Supply and Demand
GDP
Trade
Inflation
Teach Economics
Timely News Articles for Econ Class
We scour the news and send you a weekly email packed with resources that you can use in your class.
Learn More
Free High School Teacher Trainings
Teaching techniques, resources, and professional development credit! Everything you need to make economics fun and engaging for your students.
Learn More
Learn about our mission
High School Teaching Resources
See all
By Course:
High School Economics
AP Microeconomics
AP Macroeconomics
Personal Finance
By Type:
Unit Plans
Lesson Plans
Interactive Practice
Assessments
University Teaching Resources
See all
By Course:
Principles of Microeconomics
Principles of Macroeconomics
Mastering Econometrics
Development Economics
By Type:
Assessments
Interactive Practice
Lesson Plans
Assignments
Donate
Contact Us
My Account
Toggle mobile search form
Search
Practice Questions
Calculation of profit and loss Practice Questions
1. Ludwig von Mises and F.A. Hayek took part in the “Socialist Calculation Debate.” They argued that,
*
centrally planned economies would outperform capitalist countries
centrally planned economies would be less efficient than capital countries
centrally planned economies and capitalist economies would be equally efficient and perform equally well
2. Prices in a market economy
*
allow for the calculation of profit and loss and help determine if an investment is good for a firm
distorts signals regarding scarcity and societal value
are one reason that central planning may be superior to capitalism
3. Which of the following is a reason that governments have difficulty in economic calculation?
*
they are not driven by profit and loss
projects may be undertaken in order to benefit a small group or political ally
both a. and b.
4. When a political process sets the price of a good or service, the price tends to be:
*
too low
too high
at the market clearing level
Submit
Skip to Next Lesson
Back to video
Submit
Development Economics
Course
(256 videos)
Introduction
Basic Facts of Growth and Development
Practice Questions
The Importance of Institutions (Brief)
Practice Questions
Geography and Development 1
Guns, Germs and Steel: The Very Long Run
Practice Questions
How Persistent is Prosperity? (Optional)
Practice Questions
Geography and Development, Trade
Practice Questions
Geography and Development, Disease
Practice Questions
Food and Agricultural Productivity
Why Agriculture is Important
Practice Questions
Industry Builds on Agriculture
Practice Questions
Green Revolution
Practice Questions
Micronutrients
Productivity Decline
Practice Questions
GMOs
Practice Questions
Land reform in India
Practice Questions
Sharecropping
Practice Questions
China’s agricultural reforms
Practice Questions
Fertilizer, roads, and Africa
Practice Questions
Garlic (Optional)
Practice Questions
A tomato border crossing (Optional)
Practice Questions
Wheat, water, and Saudi Arabia (Optional)
Practice Questions
Yams, a man’s crop? (Optional)
Practice Questions
The Rice Price Spike of 2007-2008 (Optional)
Practice Questions
The Soy Boom (Optional)
Practice Questions
Malawi restricts trade in corn (Optional)
Practice Questions
The Clove Monopoly (Optional)
Practice Questions
Watermelon scale economies (Optional)
Practice Questions
Water Economics
Economic import of water
Water markets and ethics
Practice Questions
Water and monopoly
Practice Questions
Privatizing urban water
Practice Questions
Water privatization in Buenos Aires
Practice Questions
Cochabamba water privatization
Problems with water privatization
Practice Questions
Water and asymmetric information
Water supply and demand
Practice Questions
Water and common pool problems
Practice Questions
Ground water in Yemen
Practice Questions
Wheat, water, and Saudi Arabia
Practice Questions
Water and dams
Practice Questions
Virtual water
Practice Questions
Water Policies for People, by David Zetland (Optional)
Geography and Development 2
The Reversal of Fortune
Practice Questions
The Effect of Geography on Institutions
Practice Questions
Adam Smith (Optional)
Practice Questions
Jeffrey Sachs (Optional)
Practice Questions
Economic Growth 1
Trust and economic growth
The Solow Model (Brief, no math)
The Middle Income Trap
Practice Questions
Rule of 70
Practice Questions
Premature Deindustrialization
Practice Questions
When in India, Get a Haircut
Practice Questions
GDP and PPP
Practice Questions
Economic Growth 2
The Solow Model 1 – Introduction
Practice Questions
The Solow Model 2 – Comparative Statics
Practice Questions
The Solow Model 3 – Taking the Model to Data
Practice Questions
The Solow Model 4 – Productivity
Practice Questions
Bottlenecks, Linkages and Intermediate Goods
Double Marginalization Problem
Practice Questions
O-Ring model
Practice Questions
Paul Romer (Optional)
Practice Questions
Productivity of firms
Productivity in firms
Practice Questions
Productivity and firm size
Practice Questions
Two myths about multinationals
Practice Questions
Calculation of profit and loss
Practice Questions
Industrial policy: theory
Practice Questions
Industrial policy: evidence
Practice Questions
Conditional convergence
Practice Questions
Local monopoly power
Practice Questions
Trade
Comparative Advantage
Practice Questions
Comparative Advantage 2 Homework
Sources of Comparative Advantage
Development and Trade: Empirical Evidence
Practice Questions
Trade and Tariff History
Practice Questions
Trade and Poverty in India
Practice Questions
Does “Fair Trade” Help?
Practice Questions
World Trade Organization
Property Rights
Property Rights 1: Private v. Collective
Practice Questions
Property Rights 2: Titling
Practice Questions
Property Rights 3: Communal Property, Enclosure and the State
Practice Questions
Hernando de Soto (Optional)
Practice Questions
Corruption
Corruption and Growth
Practice Questions
Corruption and Tech Transfer
Corruption with Cash Transfers
Practice Questions
Corruption: Who Pays and How Much
Practice Questions
Corruption, Rent Seeking and Multiple Equilibria
Practice Questions
Corruption With and Without Theft
Practice Questions
Tullock Paradox
Practice Questions
Causes of Corruption
Practice Questions
Gender and Corruption
Practice Questions
Corruption and Output Composition
Practice Questions
Corruption, Justice, and Development
Practice Questions
IPaidaBribe.com
No Considerations: Doing Business in India Without Bribes
Practice Questions
Corruption Indices
Practice Questions
Corruption and Parking Tickets
Practice Questions
Indian Drivers
Practice Questions
Anne Krueger
Practice Questions
Jagdish N. Bhagwati
Practice Questions
How to Fight Corruption
Practice Questions
Corruption and Public Sector Wages
Practice Questions
Foreign aid
Recipients and Donors: Basic Facts
Practice Questions
Does Foreign Aid Increase Growth?
Practice Questions
Knowledge Problems and Incentive Problems
Practice Questions
Examples of Aid that Works
Practice Questions
The World Bank
Practice Questions
The IMF
Practice Questions
Millennium Villages Project
Practice Questions
Finance, Growth and the Poor
Finance and Growth
Practice Questions
Finance Law and Trust (Mexico)
Practice Questions
Introduction to Microfinance (Portfolios of the Poor)
Practice Questions
Why Microcredit?
Practice Questions
Why Microsavings?
Practice Questions
ROSCAs and Chit Funds
Practice Questions
Microcredit Evidence
Practice Questions
Robert Townsend
Practice Questions
Poverty and Behavior
Earning Money
Practice Questions
Spending Money
Practice Questions
Are the Poor Overwhelmed?
Poverty and Attention
Practice Questions
Conditional Cash Transfers
AmartyaSen #1 on Capabilities
Practice Questions
AmartyaSen #2 “Missing Women”
Practice Questions
“The Other Path”
Practice Questions
Edward Banfield
Practice Questions
Child Labor
Bonded Labor
Health
Randomized Controlled Trials, Part One
Practice Questions
Randomized Controlled Trials, Part Two
Practice Questions
Private Health Insurance
Practice Questions
Cholera in Haiti
Practice Questions
Fighting Diarrhea
Practice Questions
What to do about HIV/AIDS?
Practice Questions
What to do about HIV/AIDS?
Practice Questions
Deworming
Practice Questions
Pricing Mosquito Nets
Practice Questions
Birth Weight and Cash Transfers
Practice Questions
Participation in Uganda
The Quality of Medical Advice
The Kerala Paradox
Practice Questions
Education
Education and Economic Growth
Practice Questions
Education in East Asia
Practice Questions
Education and Latin Growth
Practice Questions
Private Education in India
Practice Questions
Teacher Attendance
Practice Questions
Vouchers in Colombia
Colonial Education in India
Practice Questions
Parental Expectations from School
Practice Questions
Quantity vs. Quality of Children
Practice Questions
Thoughts on Education
Conditional Cash Transfers
Mobile phones and literacy
The Rise of Private Education in India
Testing for Cream Skimming in India
Politics, democracy, and war
Democracy and Reforms
Practice Questions
The Theory of the Median Voter
The Agenda Setter
Roving and Stationary Bandits
Democracy in the Arab World
African Borders and Conflict
Will China Democratize?
Is there a Natural Resource Curse?
Practice Questions
SenIII Democracy and Famines
Practice Questions
Migration
Basic Facts about Migration
Practice Questions
Wage Gains from Immigration
Practice Questions
Remittances
Is there a Brain Drain?
Practice Questions
Wage Effects in the U.S.
Practice Questions
Internal Chinese Migration
Practice Questions
Population and environment
Demographic Transitions
Practice Questions
Population and Economic Growth
Practice Questions
The Malthusian Argument
Practice Questions
The African Demographic Dividend
Practice Questions
Environmental Economics
Practice Questions
Temperature and Growth
Practice Questions
Case Studies
Skyscrapers and Slums: What's Driving Mumbai's Housing Crisis?
Practice Questions
Rent Control in Mumbai
Practice Questions
India
India’s early growth history
Practice Questions
East India Company
Practice Questions
Land taxation in early India
Practice Questions
The deindustrialization of India
Practice Questions
Education in colonial India
Practice Questions
Railroads and colonial India
Practice Questions
Gandhi and the Salt March
Practice Questions
Did British rule help India?
India since Independence
Practice Questions
India's toughest economic times
India’s growth inflection
Practice Questions
India’s reforms of the 1990s
Practice Questions
Trade and poverty in India
Practice Questions
Agriculture in India
Practice Questions
Green Revolution
Practice Questions
Land reform in India
Practice Questions
Food crises and India’s media
Power generation in India
Practice Questions
Foreign investment in India
Practice Questions
Competition from foreign retailers
When in India, Get a Haircut
Skyscrapers and Slums: What's Driving Mumbai's Housing Crisis?
Practice Questions
Rent Control in Mumbai
Practice Questions
No Considerations: Doing Business in India Without Bribes
Bankruptcy law in India
Practice Questions
Labor market regulation
Practice Questions
India’s macroeconomic stability
Castes and groundwater trade
Practice Questions
India’s air and water pollution
Practice Questions
Mobility in the caste system
Lentils as incentive
Practice Questions
Corruption in driver’s licenses
Practice Questions
The Kerala Paradox
Practice Questions
The Rise of Private Education in India
Testing for Cream Skimming in India
Edward Luce on India
India business profiles
Practice Questions
Service sector growth
Practice Questions
Frugal innovation for the heart
Practice Questions
The value of English
Practice Questions
Female leadership in India
Cable TV and women
Practice Questions
The economics of Bollywood
Practice Questions
Amartya Sen #1
Practice Questions
Amartya Sen #2
Practice Questions
Amartya Sen #3
Practice Questions
Partha Dasgupta
Practice Questions
Jagdish N. Bhagwati
Practice Questions
People (References/Optional)
Guide to leading thinkers
Paul Rosenstein-Rodan
Practice Questions
W. Arthur Lewis
Practice Questions
Raul Prebisch
Practice Questions
Bela Balassa
Practice Questions
Ragnar Nurkse
Practice Questions
Albert O. Hirschman
Practice Questions
Peter Bauer
Practice Questions
Adam Smith
Practice Questions
Joseph Schumpeter
Practice Questions
Alexander Gerschenkron
Practice Questions
Karl Polanyi
Practice Questions
Theodore Schultz
Practice Questions
Edward Banfield
Practice Questions
Paul Krugman
Practice Questions
Jagdish N. Bhagwati
Practice Questions
Anne Krueger
Practice Questions
Elinor Ostrom
Practice Questions
Partha Dasgupta
Practice Questions
Paul Romer
Practice Questions
William Easterly
Practice Questions
Jeffrey Sachs
Practice Questions
Joseph Stiglitz
Practice Questions
Robert Townsend
Practice Questions
Banerjee, Duflo, and Kremer
Practice Questions
Amartya Sen #1
Practice Questions
Amartya Sen #2
Practice Questions
Amartya Sen #3
Practice Questions
Paul Collier
Practice Questions
Dani Rodrik
Practice Questions
Daron Acemoglu
Practice Questions
Hernando de Soto
Practice Questions
Jeffrey Sachs | Conversations with Tyler
Dani Rodrik | Conversations with Tyler
Exam
Development Economics Exam
