4169274
Descrição
Quiz por 2016: Tomas Urru, atualizado more than 1 year ago
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Criado por 2016: Tomas Urru
quase 9 anos atrás
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Questão 1
Questão
The substitutes available for a certain product help determine its Price Elasticity of Demand
Responda
- True
- False
Questão 2
Questão
The equation for calculating price elasticity of demand is: (%change of quatity demanded)/(%change in income)
Responda
- True
- False
Questão 3
Questão
Horizontal Integration: This is when one firm merges with or takes over another firm in the same industry at the same stage of production
Responda
- True
- False
Questão 4
Questão
The equation for calculating average cost is: total cost/cost per unit
Responda
- True
- False
Questão 5
Questão
Which of the following are examples of external economies of scale?
Responda
-
As businesses grow within an area, specialist skills begin to develop.
-
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
Questão 6
Questão
In a specialized labor situation, which of the following is NOT true for workers?
Responda
-
They tend to have a simple but repetitive task.
-
The extensive practice has made them efficient and productive.
-
They switch between tasks daily.
Questão 7
Questão
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
Responda
- True
- False
Questão 8
Questão
An example of a tradeoff ( an exchange—giving up one thing to get something else) is a free lunch.
Responda
- True
- False
Questão 9
Questão
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.
Responda
- True
- False
Questão 10
Questão
Total expenditure is the same as total profit made by a business, regarding a specific market situation.
Responda
- True
- False
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