A) the study of how societies use limited resources to meet unlimited needs B) the study of money only C) the study of only businesses D) the study of technology
A) things you want ,but are not essential B) expensive things people buy for fun C) the essential goods and services required for survival D) items that government controls
A) expensive ,high quality that not essential for survival B) items that only businesses produce C) cheap goods found in most stores D) goods that everyone needs to survive
A) natural resources like water and land B) money owned by individuals C) man-mad resources used to produce goods and services D) human resources like effort and skills
A) the money businesses make B) the effort of humans [physical and mental ]used in production C) the land where goods are produced D) the things people own
A) the natural resources used to make goods B) the effort used in production C) the study of government policies D) the ability to organize and manage a businesses while taking risk
A) the study of individuals and businesses making decisions B) the analysis of government policies C) the study of international trade D) the study of the entire national economy
A) the study of the supply of money B) the study of the economy at a national and global level C) the study of consumer behavior only D) the study of individual businesses
A) a system where businesses are not allowed to compete B) a government run economy C) an economy where the government controls all businesses D) a system where private individuals own resources and make decisions with little government interference
A) the right to only own land B) the right to sell goods freely C) the right to live anywhere in the country D) the right to own,control and transfer resources without interference from the government
A) the study of technology B) the study of how societies allocate limited resources to satisfy unlimited wants and needs C) the study of money supply D) the study of government policies
A) profit and loss B) consumer preferences C) demand and supply D) inputs and output
A) ethical conscious buyers B) discount-oriented buyers C) one time buyer D) impulse buyers
A) the total output will always increase as long as resources are available B) as more of one input is added , the additional output will eventually decrease C) adding more workers always increase output at the same rate D) output decrease as fewer workers are added
A) ar/vr experiences B) ai chatbots C) social media advertising D) voice search
A) the money businesses make B) the land where goods are produced C) physical and mental used in production D) things people own
A) the essential goods and services required for human and well being B) non essential wants that can be purchased with extra income C) expensive products that provide comport and prestige D) wants that are only important to businesses
A) goods that are produced by government intervention B) goods that are affordable for most people C) high quality ,expensive products that are desired for comport ,prestige ,or status D) goods that essential for survival
A) money B) capital C) labor D) land
A) entrepreneurship B) labor C) capital D) land
A) the price goes down B) it is not advertised C) it is hard to find D) the price goes up
A) fixed period B) short run C) long run D) shutdown period
A) variable B) always increasing C) fixed D) unimportant
A) decreases B) stays the same C) bouble D) increase
A) satisfaction B) expenses C) losses D) effort
A) decreasing returns to scale B) increasing return to scale C) no returns to scale D) constant returns to scale
A) can buy limited products B) prefer expensive products C) never think about money when buying D) must choose how to spend their money
A) land ,labor ,capital, entrepreneurship B) income ,output, demand ,supply C) water ,fire air, earth D) cost ,price ,profit ,loss
A) a good where demand increase as price increase B) a product that always follows the law of demand C) a luxury brand item D) a substitute good
A) ethical /conscious buyers B) businesses buyers (B2B buyers) C) social media -influenced buyers D) impulse buyers
A) consumers respond very little to price changes B) the demand curve is perfectly vertical C) consumer responds significantly to price changes D) the quantity demanded does not change with price changes
A) price increase leads to lower total revenue B) price increase leads to higher total revenue C) price changes does not effect total revenue D) total revenue is maximized when PED is equal to 1
A) the additional satisfaction from consuming one more unit of a product B) the total satisfaction from consuming a specific good C) the total satisfaction from consuming a product D) the satisfaction derived from all purchase
A) economic resources B) capital C) goods and services D) land
A) inelastic demand B) elastic demand C) perfectly elastic demand D) unitary elastic demand
A) how income effects the supply of labor B) the relationship between price and quantity demanded C) the responsiveness of demand for a goods D) the way supply responds to changes in income
A) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy B) microeconomic focuses on government policies ,while macroeconomics focuses on structures C) they are essentially the same ,just different terms D) microeconomics focuses on individuals and businesses while macro economics looks at the overall economy
A) labor B) entrepreneurship C) capital D) land
A) clothing B) electronics C) medicine D) luxury cars
A) the buying and selling of goods and services over the internet B) in person retail transaction C) transactions related to government services D) businesses to businesses networking
A) entrepreneurship B) land C) money D) labor
A) testing theories using world data B) the use of historical data in theory formation C) the analysis of financial data only D) theoretical assumption made without evidence
A) people are indifferent between gains and losses B) people make choices solely one benefits C) people fear losing more than enjoy gaining D) people make decisions based on logical analysis
A) the effort used in production B) the natural resources used to make goods C) manage businesses while taking risks D) the study of government policies
A) the things person own B) physical and mental used in production C) the money businesses make D) the land where goods are produced
A) salt B) life saving medicine C) luxury goods like designer bags D) gasoline
A) video marketing B) data privacy and security influencer marketing C) content saturation
A) social media advertising B) print marketing C) interactive and immersive content D) email campaigns
A) the good is a necessity with few substitute B) the goods is expensive to income C) the good has high production costs D) there are many substitute available for the good
A) as income fails , spending on luxuries increase B) as income rises ,spending on necessities increase C) spending on both necessities and luxuries decrease as income rises D) spending on luxuries increase while spending on necessities remains the same
A) concert tickets B) airline tickets C) salt D) luxury cars
A) water B) bread C) medicine D) designer watches
A) unitary elastic demand B) perfectly elastic demand C) inelastic demand D) elastic demand
A) consumer select combinations of goods that provide the same utility B) consumer aims to maximize their satisfaction within their budget C) consumers make decisions based one emotions and biases D) consumer react to losses more strongly than gains
A) life saving medicine B) airline ticket C) salt D) luxury goods
A) salt B) luxury goods C) water D) electricity |