CHAPTER 1

CHAPTER 1

2nd Grade

15 Qs

quiz-placeholder

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CHAPTER 1

CHAPTER 1

Assessment

Quiz

Business

2nd Grade

Practice Problem

Hard

Created by

Mariah Leslyn

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economists are very good at telling us what is going on, but often fail when they tell us what to do.

true

false

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

approaches the same phenomena at an aggregate level, for example, the total consumption and production of a region.

Managerial

Microeconomics

Macroeconomics

Scarce Resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

is the mother science on which management is based

Economics

Management

Managerial

economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

studies phenomena related to goods and services from the perspective of individual decision-making entities—that is, households and businesses.

Managerial

Microeconomics

Macroeconomics

Scarce Resources

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

MICROECONOMICS

demand and supply between individuals

includes analysis of: consumers, buyers, vendors, providers

includes studies related to: local, national, regional and global economies

total economic environment

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

ECONOMICS

the study of the production, distribution, and consumption of goods and services. The first definition indicates that economics includes any business, nonprofit organization, or administrative unit.

studies phenomena related to goods and services from the perspective of individual decision-making entities—that is, households and businesses.

approaches the same phenomena at an aggregate level, for example, the total consumption and production of a region.

the study of choice related to the allocation of scarce resources. The second definition establishes that economics is at the core of what managers of these organizations do.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a manager does not restricts himself/herself to telling what is going on, and does take action, he /she will find his career terminated.

false

true

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