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