Unit 10 S&D Assessment

Which of the following is a key component of market analysis?

• Demand and supply curve graphs and finding equilibrium

• Exchange rates

• Inflation

• Unemployment

Which topic is included under macroeconomics?

• Economies of scale

• Types of competition

• Economic growth, GDP, phases of growth, effects on business

• Extent of changes in market equilibrium

What is one of the effects studied in macroeconomics?

• Economies of scale

• Inflation

• Types of competition

• Extent of changes in market equilibrium

What is the primary reason decisions need to be made in economics?

• Unlimited resources

• Limited resources

• Abundant resources

• Infinite resources

At the most fundamental level, what does economics study in terms of resource allocation?

• How to create resources

• How to destroy resources

• How to allocate scarce resources

• How to ignore resources

What is economics often referred to as?

• The science of wealth

• The science of choice

• The science of abundance

• The science of luxury

What is an economic system?

• A system of political governance

• A system of cultural exchange

• A system of production, distribution, and consumption of goods and services

• A system of educational development

Which of the following is NOT a type of economic system?

• Command economy

• Free economy

• Mixed economy

• Cultural economy

What is microeconomics primarily concerned with?

• The performance of the entire economy

• How firms, households, and individuals make decisions

• Regional economic policies

• Global trade agreements

Which branch of economics deals with the performance, structure, behavior, and decision-making of the entire economy?

• Microeconomics

• Behavioral economics

• Macroeconomics

• International economics