A) the study of only businesses B) the study of money only C) the study of how societies use limited resources to meet unlimited needs D) the study of technology
A) things you want ,but are not essential B) the essential goods and services required for survival C) expensive things people buy for fun D) items that government controls
A) goods that everyone needs to survive B) expensive ,high quality that not essential for survival C) cheap goods found in most stores D) items that only businesses produce
A) man-mad resources used to produce goods and services B) human resources like effort and skills C) natural resources like water and land D) money owned by individuals
A) the things people own B) the land where goods are produced C) the effort of humans [physical and mental ]used in production D) the money businesses make
A) the effort used in production B) the ability to organize and manage a businesses while taking risk C) the study of government policies D) the natural resources used to make goods
A) the study of the entire national economy B) the study of individuals and businesses making decisions C) the study of international trade D) the analysis of government policies
A) the study of individual businesses B) the study of consumer behavior only C) the study of the supply of money D) the study of the economy at a national and global level
A) a government run economy B) a system where private individuals own resources and make decisions with little government interference C) an economy where the government controls all businesses D) a system where businesses are not allowed to compete
A) the right to own,control and transfer resources without interference from the government B) the right to live anywhere in the country C) the right to only own land D) the right to sell goods freely
A) the study of money supply B) the study of government policies C) the study of technology D) the study of how societies allocate limited resources to satisfy unlimited wants and needs
A) profit and loss B) demand and supply C) inputs and output D) consumer preferences
A) ethical conscious buyers B) one time buyer C) discount-oriented buyers D) impulse buyers
A) as more of one input is added , the additional output will eventually decrease B) adding more workers always increase output at the same rate C) the total output will always increase as long as resources are available D) output decrease as fewer workers are added
A) ar/vr experiences B) voice search C) ai chatbots D) social media advertising
A) things people own B) the land where goods are produced C) the money businesses make D) physical and mental used in production
A) the essential goods and services required for human and well being B) expensive products that provide comport and prestige C) non essential wants that can be purchased with extra income D) wants that are only important to businesses
A) goods that are produced by government intervention B) high quality ,expensive products that are desired for comport ,prestige ,or status C) goods that are affordable for most people D) goods that essential for survival
A) money B) labor C) capital D) land
A) land B) capital C) labor D) entrepreneurship
A) the price goes up B) it is hard to find C) the price goes down D) it is not advertised
A) fixed period B) long run C) short run D) shutdown period
A) variable B) always increasing C) unimportant D) fixed
A) bouble B) decreases C) stays the same D) increase
A) expenses B) satisfaction C) losses D) effort
A) decreasing returns to scale B) constant returns to scale C) increasing return to scale D) no 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) water ,fire air, earth C) cost ,price ,profit ,loss D) land ,labor ,capital, entrepreneurship
A) a product that always follows the law of demand B) a substitute good C) a good where demand increase as price increase D) a luxury brand item
A) businesses buyers (B2B buyers) B) impulse buyers C) ethical /conscious buyers D) social media -influenced buyers
A) the demand curve is perfectly vertical B) consumer responds significantly to price changes C) the quantity demanded does not change with price changes D) consumers respond very little to price changes
A) price increase leads to lower total revenue B) price changes does not effect total revenue C) price increase leads to higher total revenue D) total revenue is maximized when PED is equal to 1
A) the satisfaction derived from all purchase B) the total satisfaction from consuming a specific good C) the total satisfaction from consuming a product D) the additional satisfaction from consuming one more unit of a product
A) economic resources B) capital C) goods and services D) land
A) inelastic demand B) unitary elastic demand C) perfectly elastic demand D) elastic demand
A) the responsiveness of demand for a goods B) the relationship between price and quantity demanded C) how income effects the supply of labor D) the way supply responds to changes in income
A) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy B) microeconomics focuses on individuals and businesses while macro economics looks at the overall economy C) microeconomic focuses on government policies ,while macroeconomics focuses on structures D) they are essentially the same ,just different terms
A) land B) capital C) labor D) entrepreneurship
A) electronics B) luxury cars C) clothing D) medicine
A) the buying and selling of goods and services over the internet B) businesses to businesses networking C) in person retail transaction D) transactions related to government services
A) entrepreneurship B) labor C) land D) money
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 make decisions based on logical analysis C) people make choices solely one benefits D) people are indifferent between gains and losses
A) manage businesses while taking risks B) the effort used in production C) the study of government policies D) the natural resources used to make goods
A) the money businesses make B) the things person own C) the land where goods are produced D) physical and mental used in production
A) gasoline B) life saving medicine C) salt D) luxury goods like designer bags
A) data privacy and security influencer marketing B) video marketing C) content saturation
A) print marketing B) email campaigns C) social media advertising D) interactive and immersive content
A) the good has high production costs B) the good is a necessity with few substitute C) the goods is expensive to income 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) luxury cars B) airline tickets C) salt D) concert tickets
A) water B) bread C) designer watches D) medicine
A) elastic demand B) inelastic demand C) unitary elastic demand D) perfectly elastic demand
A) consumer select combinations of goods that provide the same utility B) consumer react to losses more strongly than gains C) consumer aims to maximize their satisfaction within their budget D) consumers make decisions based one emotions and biases
A) salt B) airline ticket C) luxury goods D) life saving medicine
A) salt B) electricity C) luxury goods D) water |