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

CHAPTER 1

Quiz
•
Business
•
2nd Grade
•
Hard
Mariah Leslyn
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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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