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