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