4169491
Questão 1
Questão
Profit is the main motive in free-market economies.
Responda
- True
- False
Questão 2
Questão
The idea that since sonsumers act towars self-interest, it results in an allocation of resources in the economy is known as
Responda
-
Invisible hand
-
Market mechanism
-
Functions of price
Questão 3
Questão
One of the greatest advantages of a command economy is that there are monopolies under close government supervision.
Responda
- True
- False
Questão 4
Questão
What is the equation to calculate productivity?
Responda
-
production/labor and time
-
labor and time/production
Questão 5
Questão
The maximum possible output that can be achieved given a fixed set of resources is also known as
Responda
-
opportunity cost
-
efficient production
-
production possibilities frontier
Questão 6
Questão
Which factor shapes the PPF?
Responda
-
introduction of new resources
-
comparative advantage
-
demand for a certain product
Questão 7
Questão
"The government only supplies goods and services to those who bribe it. Its corruption has destroyed our economy."
This is an example of a normative statement
Responda
- True
- False
Questão 8
Questão
"Colombian coffee has been described as one of the best in the world."
This is an example of a value judgement.
Responda
- True
- False
Questão 9
Questão
What does the equi-marginal principle show you?
Responda
-
How to maximize your utility when you have more than one good
-
How to measure the amount of satisfaction gained from a certain good or service.
-
How an increase in production results in a decrease of the average costs.
Questão 10
Questão
Which of the following economies of scale are not internal?
Responda
-
Financial Economies of Scale
-
Risc Bearing Economies of Scale
-
Marketing Economies of Scale
-
Technical/Production Economies of Scale
-
Vertical Integration Economies of Scale
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