BBE LECTURE 3

What is the goal of the firm?

• Revenue

• cost saving

• Profit

• Market share

Which group of cost does opportunity cost belong to?

• Explicit costs

• Implicit costs

• Accounting costs

What is marginal cost?

• The cost that firms have to pay for the customer

• The cost of production

• Increase in total cost arising from an extra unit of production

• The accounting cost

What is characteristic of fixed costs?

• Vary with the quantity of output produced

• Is Bigger than variable costs

• It's not necessary to pay by The Firm

• Do not vary with the quantity of output produced

Wha is the characteristics of the competitive market except?

• Market with many buyers and sellers

• Trading identical products

• Trading totally different products

• Firms can freely enter exit the market

What are barriers arise to entry market except?

• Monopoly resources

• Government regulation

• Production process

• Marketing process

What are characteristics of monopolistic competition except?

• Many sellers

• Many buyers

• Product differentiation

• Free entry and exist

What are channels of financial system except?

• Bond market

• Stock market

• Mutual fund

• Buy services and products

What kind of company will issue stock?

• Sole traders

• Partnership

• Private limited company

• Public limited company

Which one is more profitable?

• Depositing money into the bank

• Bond

• Stock

• Cash