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Economic Assumptions Quiz

Authored by maham ali rana

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12th Grade

Used 26+ times

Economic Assumptions Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do economists assume about consumer behavior?

Consumers do not consider their budget

Consumers always behave irrationally

Consumers always behave based on clear thought

Consumers are influenced solely by advertising

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of consumers according to economic assumptions?

To support local businesses

To maximize their benefit

To minimize their spending

To follow trends

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a consumer has a budget of 500 dhs, what is a rational behavior?

Buying the most expensive item

Buying randomly

Ignoring the budget

Buying items based on preference

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do businesses aim to maximize according to economic assumptions?

Employee happiness

Profit

Market share

Customer satisfaction

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When setting prices, what do businesses typically do?

Charge the lowest price possible

Charge the highest price the market can bear

Charge based on competitor prices only

Charge a random price

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a reason consumers may not maximize their benefit?

They always have complete information

They develop brand loyalty

They prefer to buy the cheapest item

They are always rational

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can influence a consumer's buying behavior?

Economic conditions

Brand history

Peer pressure

Only personal preferences

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