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) items that government controls B) things you want ,but are not essential C) expensive things people buy for fun D) the essential goods and services required for survival
A) expensive ,high quality that not essential for survival B) cheap goods found in most stores C) goods that everyone needs to survive D) items that only businesses produce
A) natural resources like water and land B) man-mad resources used to produce goods and services C) money owned by individuals D) human resources like effort and skills
A) the effort of humans [physical and mental ]used in production B) the money businesses make C) the things people own D) the land where goods are produced
A) the study of government policies B) the natural resources used to make goods C) the ability to organize and manage a businesses while taking risk D) the effort used in production
A) the study of international trade B) the analysis of government policies C) the study of the entire national economy 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 consumer behavior only D) the study of the supply of money
A) an economy where the government controls all businesses B) a government run economy C) a system where businesses are not allowed to compete D) a system where private individuals own resources and make decisions with little government interference
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 sell goods freely D) the right to only own land
A) the study of how societies allocate limited resources to satisfy unlimited wants and needs B) the study of money supply C) the study of government policies D) the study of technology
A) profit and loss B) consumer preferences C) inputs and output D) demand and supply
A) impulse buyers B) one time buyer C) discount-oriented 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) social media advertising B) ai chatbots C) ar/vr experiences D) voice search
A) the money businesses make B) things people own C) the land where goods are produced D) physical and mental used in production
A) expensive products that provide comport and prestige B) wants that are only important to businesses C) the essential goods and services required for human and well being D) non essential wants that can be purchased with extra income
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) money B) capital C) land D) labor
A) capital B) entrepreneurship C) land D) labor
A) the price goes up B) it is not advertised C) the price goes down D) it is hard to find
A) long run B) shutdown period C) short run D) fixed period
A) fixed B) variable C) always increasing D) unimportant
A) bouble B) increase C) decreases D) stays the same
A) losses B) expenses C) effort D) satisfaction
A) no returns to scale B) decreasing returns to scale C) increasing return to scale D) constant 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) land ,labor ,capital, entrepreneurship C) income ,output, demand ,supply D) water ,fire air, earth
A) a product that always follows the law of demand B) a substitute good C) a good where demand increase as price increase 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) the demand curve is perfectly vertical C) consumer responds significantly 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) total revenue is maximized when PED is equal to 1 D) price increase leads to lower total revenue
A) the additional satisfaction from consuming one more unit of a product B) the satisfaction derived from all purchase 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) perfectly elastic demand B) elastic demand C) inelastic demand D) unitary elastic demand
A) the relationship between price and quantity demanded B) the responsiveness of demand for a goods C) the way supply responds to changes in income D) how income effects the supply of labor
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) they are essentially the same ,just different terms D) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy
A) land B) labor C) capital D) entrepreneurship
A) clothing B) luxury cars C) electronics D) medicine
A) in person retail transaction B) businesses to businesses networking C) the buying and selling of goods and services over the internet D) transactions related to government services
A) land B) labor C) money D) entrepreneurship
A) the analysis of financial data only B) the use of historical data in theory formation C) theoretical assumption made without evidence D) testing theories using world data
A) people fear losing more than enjoy gaining B) people make decisions based on logical analysis C) people make choices solely one benefits D) people are indifferent between gains and losses
A) the effort used in production B) the natural resources used to make goods C) the study of government policies D) manage businesses while taking risks
A) physical and mental used in production B) the land where goods are produced C) the money businesses make D) the things person own
A) luxury goods like designer bags B) salt C) gasoline D) life saving medicine
A) data privacy and security influencer marketing B) content saturation C) video marketing
A) email campaigns B) interactive and immersive content C) print marketing D) social media advertising
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) as income rises ,spending on necessities 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 fails , spending on luxuries increase
A) salt B) concert tickets C) airline tickets D) luxury cars
A) bread B) water C) medicine D) designer watches
A) unitary elastic demand B) inelastic demand C) perfectly elastic demand D) elastic demand
A) consumers make decisions based one emotions and biases B) consumer react to losses more strongly than gains C) consumer select combinations of goods that provide the same utility D) consumer aims to maximize their satisfaction within their budget
A) salt B) airline ticket C) life saving medicine D) luxury goods
A) electricity B) luxury goods C) water D) salt |