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