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funbus

Authored by jes jes

English

University

94 Questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

- is an entity that employs resources, or factors of production, to produce goods and services to be sold to consumers, other firms, or the government.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

guides individuals from production of one good into the production of another; coordinates individuals’ actions so that suppliers and demanders find mutual satisfaction at equilibrium.

Market

Firm

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

coordinates individuals’ actions so that suppliers and demanders find mutual satisfaction at equilibrium.

Market

Firm

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

observed that individuals in market setting are “led by an invisible hand to promote an end which is no part of their intention”.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Economist Adam Smith - observed that individuals in market setting are “led by an ____ hand to promote an end which is no part of their intention”.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

- has visible hands in a firm; tells employees to

1) produce more goods.

2) design new goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

is both led by the invisible hand of the market and the visible hand of the firm’s manager. Market coordination and managerial coordination are both present.

Individual’s action

Market coordination

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