A) the study of how societies use limited resources to meet unlimited needs B) the study of technology C) the study of money only D) the study of only businesses
A) items that government controls B) the essential goods and services required for survival C) things you want ,but are not essential D) expensive things people buy for fun
A) expensive ,high quality that not essential for survival B) items that only businesses produce C) cheap goods found in most stores D) goods that everyone needs to survive
A) money owned by individuals B) human resources like effort and skills C) man-mad resources used to produce goods and services D) natural resources like water and land
A) the things people own B) the money businesses make C) the effort of humans [physical and mental ]used in production D) the land where goods are produced
A) the effort used in production B) the natural resources used to make goods C) the ability to organize and manage a businesses while taking risk D) the study of government policies
A) the study of international trade B) the study of individuals and businesses making decisions C) the study of the entire national economy D) the analysis of government policies
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 businesses are not allowed to compete B) an economy where the government controls all businesses C) a government run economy D) a system where private individuals own resources and make decisions with little government interference
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 government policies B) the study of how societies allocate limited resources to satisfy unlimited wants and needs C) the study of technology D) the study of money supply
A) consumer preferences B) inputs and output C) profit and loss D) demand and supply
A) impulse buyers B) one time buyer C) ethical conscious buyers 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) voice search 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) 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) high quality ,expensive products that are desired for comport ,prestige ,or status B) goods that are affordable for most people C) goods that essential for survival D) goods that are produced by government intervention
A) capital B) money C) labor D) land
A) labor B) land C) capital D) entrepreneurship
A) it is hard to find B) the price goes up C) the price goes down D) it is not advertised
A) shutdown period B) short run C) long run D) fixed period
A) always increasing B) variable C) unimportant D) fixed
A) increase B) stays the same C) decreases D) bouble
A) effort B) expenses C) losses D) satisfaction
A) no returns to scale B) increasing return to scale C) constant returns to scale D) decreasing 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) land ,labor ,capital, entrepreneurship B) income ,output, demand ,supply C) cost ,price ,profit ,loss D) water ,fire air, earth
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) ethical /conscious buyers C) businesses buyers (B2B buyers) D) social media -influenced 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) total revenue is maximized when PED is equal to 1 B) price increase leads to lower total revenue C) price changes does not effect total revenue D) price increase leads to higher total revenue
A) the total satisfaction from consuming a specific good B) the satisfaction derived from all purchase 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) unitary elastic demand C) perfectly elastic demand D) inelastic demand
A) the relationship between price and quantity demanded B) the responsiveness of demand for a goods C) how income effects the supply of labor D) the way supply responds to changes in income
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) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy D) they are essentially the same ,just different terms
A) capital B) land C) labor D) entrepreneurship
A) electronics B) medicine C) clothing D) luxury cars
A) businesses to businesses networking B) the buying and selling of goods and services over the internet C) in person retail transaction D) transactions related to government services
A) land B) money C) labor D) entrepreneurship
A) the analysis of financial data only B) testing theories using world data C) theoretical assumption made without evidence D) the use of historical data in theory formation
A) people make choices solely one benefits B) people make decisions based on logical analysis C) people fear losing more than enjoy gaining D) people are indifferent between gains and losses
A) the study of government policies B) the natural resources used to make goods C) the effort used in production 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) life saving medicine C) gasoline D) salt
A) content saturation B) video marketing C) data privacy and security influencer marketing
A) email campaigns B) print marketing C) social media advertising D) interactive and immersive content
A) the good has high production costs B) the goods is expensive to income C) there are many substitute available for the good D) the good is a necessity with few substitute
A) spending on luxuries increase while spending on necessities remains the same B) spending on both necessities and luxuries decrease as income rises C) as income fails , spending on luxuries increase D) as income rises ,spending on necessities increase
A) luxury cars B) salt C) airline tickets D) concert tickets
A) designer watches B) medicine C) bread D) water
A) inelastic demand B) unitary elastic demand C) perfectly elastic demand D) elastic demand
A) consumer react to losses more strongly than gains B) consumers make decisions based one emotions and biases C) consumer aims to maximize their satisfaction within their budget D) consumer select combinations of goods that provide the same utility
A) life saving medicine B) salt C) luxury goods D) airline ticket
A) luxury goods B) water C) electricity D) salt |