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