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