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