1.A group of firms located in the same region producing similar products is called...

a.

A cartel.

b.

A choo.

c.

A cluster.

d.

A coven.

2.If shares in a variety of companies rise and fall with the economy, then their risk is...

a.

Idiosyncratic.

b.

Systematic.

c.

Minimised.

d.

Maximised.

3.If average variable cost is decreasing, then...

a.

Average product of labour is decreasing.

b.

Average product of labour is increasing.

c.

Average product of labour is unchanged.

d.

Any of the other options are possible.