A) the study of technology B) the study of only businesses C) the study of how societies use limited resources to meet unlimited needs D) the study of money only
A) the essential goods and services required for survival B) things you want ,but are not essential C) items that government controls D) expensive things people buy for fun
A) goods that everyone needs to survive B) cheap goods found in most stores C) expensive ,high quality that not essential for survival D) items that only businesses produce
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 money businesses make B) the things people own C) the effort of humans [physical and mental ]used in production D) the land where goods are produced
A) the ability to organize and manage a businesses while taking risk B) the natural resources used to make goods C) the effort used in production D) the study of government policies
A) the study of individuals and businesses making decisions B) the study of international trade C) the analysis of government policies D) the study of the entire national economy
A) the study of the economy at a national and global level B) the study of consumer behavior only C) the study of individual businesses D) the study of the supply of money
A) a system where private individuals own resources and make decisions with little government interference B) a government run economy C) a system where businesses are not allowed to compete D) an economy where the government controls all businesses
A) the right to live anywhere in the country B) the right to sell goods freely C) the right to own,control and transfer resources without interference from the government D) the right to only own land
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) consumer preferences B) inputs and output C) profit and loss D) demand and supply
A) discount-oriented buyers B) impulse buyers C) ethical conscious buyers D) one time buyer
A) adding more workers always increase output at the same rate B) output decrease as fewer workers are added C) as more of one input is added , the additional output will eventually decrease D) the total output will always increase as long as resources are available
A) ai chatbots B) ar/vr experiences C) social media advertising D) voice search
A) things people own B) physical and mental used in production C) the money businesses make D) the land where goods are produced
A) non essential wants that can be purchased with extra income B) wants that are only important to businesses C) expensive products that provide comport and prestige D) the essential goods and services required for human and well being
A) goods that are produced by government intervention B) goods that essential for survival C) high quality ,expensive products that are desired for comport ,prestige ,or status D) goods that are affordable for most people
A) capital B) land C) money D) labor
A) capital B) entrepreneurship C) land D) labor
A) the price goes down B) it is hard to find C) the price goes up D) it is not advertised
A) shutdown period B) fixed period C) long run D) short run
A) unimportant B) always increasing C) fixed D) variable
A) increase B) decreases C) bouble D) stays the same
A) effort B) satisfaction C) losses D) expenses
A) no returns to scale B) decreasing returns to scale C) constant returns to scale D) increasing return 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) income ,output, demand ,supply B) water ,fire air, earth C) cost ,price ,profit ,loss 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) social media -influenced buyers B) businesses buyers (B2B buyers) C) ethical /conscious buyers D) impulse buyers
A) consumer responds significantly to price changes B) consumers respond very little to price changes C) the demand curve is perfectly vertical 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 higher total revenue C) price changes does not effect total revenue D) price increase leads to lower total revenue
A) the total satisfaction from consuming a specific good B) the satisfaction derived from all purchase C) the additional satisfaction from consuming one more unit of a product D) the total satisfaction from consuming a product
A) goods and services B) land C) capital D) economic resources
A) unitary elastic demand B) inelastic demand C) perfectly elastic demand D) elastic demand
A) how income effects the supply of labor B) the responsiveness of demand for a goods C) the way supply responds to changes in income D) the relationship between price and quantity demanded
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) they are essentially the same ,just different terms D) microeconomics focuses on individuals and businesses ,while macroeconomics looks at the overall economy
A) capital B) land C) labor D) entrepreneurship
A) electronics B) medicine C) luxury cars D) clothing
A) transactions related to government services B) businesses to businesses networking C) in person retail transaction D) the buying and selling of goods and services over the internet
A) entrepreneurship B) money C) land D) labor
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 study of government policies C) the natural resources used to make goods D) manage businesses while taking risks
A) the things person own B) the money businesses make C) the land where goods are produced D) physical and mental used in production
A) life saving medicine B) gasoline C) luxury goods like designer bags D) salt
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) the goods is expensive to income B) the good has high production costs C) there are many substitute available for the good D) the good is a necessity with few substitute
A) as income fails , spending on luxuries increase B) as income rises ,spending on necessities increase C) spending on both necessities and luxuries decrease as income rises D) spending on luxuries increase while spending on necessities remains the same
A) airline tickets B) luxury cars C) salt D) concert tickets
A) water B) designer watches C) bread D) medicine
A) unitary elastic demand B) perfectly elastic demand C) elastic demand D) inelastic demand
A) consumer aims to maximize their satisfaction within their budget B) consumer select combinations of goods that provide the same utility C) consumer react to losses more strongly than gains D) consumers make decisions based one emotions and biases
A) luxury goods B) life saving medicine C) salt D) airline ticket
A) luxury goods B) salt C) electricity D) water |