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