4169274
Beschreibung
Quiz von 2016: Tomas Urru, aktualisiert more than 1 year ago
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Erstellt von 2016: Tomas Urru
vor fast 9 Jahre
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Frage 1
Frage
The substitutes available for a certain product help determine its Price Elasticity of Demand
Antworten
- True
- False
Frage 2
Frage
The equation for calculating price elasticity of demand is: (%change of quatity demanded)/(%change in income)
Antworten
- True
- False
Frage 3
Frage
Horizontal Integration: This is when one firm merges with or takes over another firm in the same industry at the same stage of production
Antworten
- True
- False
Frage 4
Frage
The equation for calculating average cost is: total cost/cost per unit
Antworten
- True
- False
Frage 5
Frage
Which of the following are examples of external economies of scale?
Antworten
-
As businesses grow within an area, specialist skills begin to develop.
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Better road and transport links develops as the area improve (e.g. London Docklands)
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Low morale because of bigger size of company
Frage 6
Frage
In a specialized labor situation, which of the following is NOT true for workers?
Antworten
-
They tend to have a simple but repetitive task.
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The extensive practice has made them efficient and productive.
-
They switch between tasks daily.
Frage 7
Frage
A country has an absolute advantage over its trading partners if it is able to produce more of a good or service with the same amount of resources
Antworten
- True
- False
Frage 8
Frage
An example of a tradeoff ( an exchange—giving up one thing to get something else) is a free lunch.
Antworten
- True
- False
Frage 9
Frage
The law of diminishing marginal utility states that an individual gets more reward/satisfaction as they consume more and more units of a specific commodity.
Antworten
- True
- False
Frage 10
Frage
Total expenditure is the same as total profit made by a business, regarding a specific market situation.
Antworten
- True
- False
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