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