A) the study of technology B) the study of only businesses C) the study of how societies use limited resources to meet unlimited needs 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) items that only businesses produce B) goods that everyone needs to survive C) cheap goods found in most stores D) expensive ,high quality that not essential for survival
A) man-mad resources used to produce goods and services B) natural resources like water and land C) money owned by individuals 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 study of government policies B) the effort used in production C) the ability to organize and manage a businesses while taking risk D) the natural resources used to make goods
A) the analysis of government policies B) the study of the entire national economy C) the study of international trade D) the study of individuals and businesses making decisions
A) the study of the supply of money B) the study of the economy at a national and global level C) the study of individual businesses D) the study of consumer behavior only
A) a system where private individuals own resources and make decisions with little government interference B) a government run economy C) an economy where the government controls all businesses D) a system where businesses are not allowed to compete
A) the right to live anywhere in the country B) the right to own,control and transfer resources without interference from the government C) the right to only own land D) the right to sell goods freely
A) the study of money supply 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 technology
A) demand and supply B) inputs and output C) consumer preferences D) profit and loss
A) one time buyer B) ethical conscious buyers C) discount-oriented buyers D) impulse buyers
A) adding more workers always increase output at the same rate B) the total output will always increase as long as resources are available C) as more of one input is added , the additional output will eventually decrease 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) physical and mental used in production C) the land where goods are produced D) things people own
A) wants that are only important to businesses B) non essential wants that can be purchased with extra income C) expensive products that provide comport and prestige D) the essential goods and services required for human and well being
A) goods that are affordable for most people B) goods that are produced by government intervention C) high quality ,expensive products that are desired for comport ,prestige ,or status D) goods that essential for survival
A) capital B) land C) money D) labor
A) land B) entrepreneurship C) labor D) capital
A) it is hard to find B) it is not advertised C) the price goes down D) the price goes up
A) shutdown period B) fixed period C) short run D) long run
A) always increasing B) variable C) fixed D) unimportant
A) decreases B) bouble C) increase D) stays the same
A) expenses B) effort C) losses D) satisfaction
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) must choose how to spend their money C) can buy limited products D) prefer expensive products
A) cost ,price ,profit ,loss B) water ,fire air, earth C) income ,output, demand ,supply D) land ,labor ,capital, entrepreneurship
A) a good where demand increase as price increase B) a luxury brand item C) a substitute good D) a product that always follows the law of demand
A) businesses buyers (B2B buyers) B) social media -influenced buyers C) ethical /conscious 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) total revenue is maximized when PED is equal to 1 D) price increase leads to higher total revenue
A) the satisfaction derived from all purchase B) the additional satisfaction from consuming one more unit of a product C) the total satisfaction from consuming a product D) the total satisfaction from consuming a specific good
A) economic resources B) goods and services C) land D) capital
A) perfectly elastic demand B) unitary elastic demand C) inelastic demand D) elastic demand
A) the responsiveness of demand for a goods B) the way supply responds to changes in income 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) entrepreneurship B) land C) capital D) labor
A) medicine B) electronics C) clothing D) luxury cars
A) transactions related to government services B) in person retail transaction C) the buying and selling of goods and services over the internet D) businesses to businesses networking
A) entrepreneurship B) labor C) land D) money
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 make choices solely one benefits B) people are indifferent between gains and losses C) people make decisions based on logical analysis D) people fear losing more than enjoy gaining
A) manage businesses while taking risks B) the study of government policies C) the effort used in production D) the natural resources used to make goods
A) the land where goods are produced B) the things person own C) physical and mental used in production D) the money businesses make
A) luxury goods like designer bags B) gasoline C) salt D) life saving medicine
A) video marketing B) content saturation C) data privacy and security influencer marketing
A) interactive and immersive content B) social media advertising C) print marketing D) email campaigns
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) spending on luxuries increase while spending on necessities remains the same B) spending on both necessities and luxuries decrease as income rises C) as income rises ,spending on necessities increase D) as income fails , spending on luxuries increase
A) airline tickets B) concert tickets C) salt D) luxury cars
A) bread B) water C) medicine D) designer watches
A) elastic demand B) inelastic demand C) perfectly elastic demand D) unitary elastic demand
A) consumer aims to maximize their satisfaction within their budget B) consumer select combinations of goods that provide the same utility C) consumers make decisions based one emotions and biases D) consumer react to losses more strongly than gains
A) luxury goods B) airline ticket C) salt D) life saving medicine
A) electricity B) water C) salt D) luxury goods |