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