A) the study of technology B) the study of money only C) the study of only businesses D) the study of how societies use limited resources to meet unlimited needs
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) goods that everyone needs to survive B) items that only businesses produce C) cheap goods found in most stores D) expensive ,high quality that not essential for survival
A) natural resources like water and land B) human resources like effort and skills C) money owned by individuals D) man-mad resources used to produce goods and services
A) the effort of humans [physical and mental ]used in production B) the land where goods are produced C) the things people own D) the money businesses make
A) the ability to organize and manage a businesses while taking risk B) the study of government policies C) the effort used in production D) the natural resources used to make goods
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 individual businesses B) the study of the economy at a national and global level C) the study of the supply of money D) the study of consumer behavior only
A) a system where private individuals own resources and make decisions with little government interference B) an economy where the government controls all businesses C) a system where businesses are not allowed to compete D) a government run economy
A) the right to only own land B) the right to own,control and transfer resources without interference from the government C) the right to sell goods freely 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) inputs and output B) profit and loss C) demand and supply D) consumer preferences
A) discount-oriented buyers B) impulse buyers C) one time buyer D) ethical conscious 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) ai chatbots B) voice search C) social media advertising D) ar/vr experiences
A) physical and mental used in production B) the land where goods are produced C) the money businesses make 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 essential for survival C) goods that are produced by government intervention D) goods that are affordable for most people
A) money B) land C) labor D) capital
A) land B) capital C) labor D) entrepreneurship
A) it is not advertised B) the price goes down C) it is hard to find D) the price goes up
A) long run B) short run C) shutdown period D) fixed period
A) unimportant B) fixed C) variable D) always increasing
A) bouble B) decreases C) stays the same D) increase
A) effort B) losses C) satisfaction D) expenses
A) decreasing returns to scale B) no returns to scale C) constant returns to scale D) increasing return 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) land ,labor ,capital, entrepreneurship B) cost ,price ,profit ,loss C) income ,output, demand ,supply D) water ,fire air, earth
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) impulse buyers B) businesses buyers (B2B buyers) C) ethical /conscious buyers D) social media -influenced buyers
A) consumers respond very little to price changes B) the quantity demanded does not change with price changes C) consumer responds significantly to price changes D) the demand curve is perfectly vertical
A) price increase leads to higher total revenue B) price changes does not effect total revenue C) total revenue is maximized when PED is equal to 1 D) price increase leads to lower total revenue
A) the total satisfaction from consuming a product B) the total satisfaction from consuming a specific good C) the additional satisfaction from consuming one more unit of a product D) the satisfaction derived from all purchase
A) land B) economic resources C) capital D) goods and services
A) perfectly elastic demand B) unitary elastic demand C) inelastic demand D) 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) microeconomic focuses on government policies ,while macroeconomics focuses on structures B) microeconomics focuses on individuals and businesses while macro economics looks at the overall economy C) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy D) they are essentially the same ,just different terms
A) entrepreneurship B) capital C) labor D) land
A) clothing B) luxury cars C) electronics D) medicine
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) labor B) money C) land D) entrepreneurship
A) testing theories using world data B) the analysis of financial data only C) theoretical assumption made without evidence D) the use of historical data in theory formation
A) people fear losing more than enjoy gaining B) people make decisions based on logical analysis C) people are indifferent between gains and losses D) people make choices solely one benefits
A) the natural resources used to make goods B) manage businesses while taking risks C) the effort used in production D) the study of government policies
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) life saving medicine B) salt C) luxury goods like designer bags D) gasoline
A) content saturation B) data privacy and security influencer marketing C) video marketing
A) print marketing B) email campaigns C) social media advertising D) interactive and immersive content
A) the good is a necessity with few substitute B) the good has high production costs C) there are many substitute available for the good D) the goods is expensive to income
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) concert tickets B) salt C) airline tickets D) luxury cars
A) bread B) medicine C) designer watches D) water
A) elastic demand B) perfectly elastic demand C) unitary elastic demand D) inelastic demand
A) consumer select combinations of goods that provide the same utility B) consumer aims to maximize their satisfaction within their budget 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) life saving medicine D) salt
A) salt B) electricity C) water D) luxury goods |