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