Managerial Economics (MIDTERMS) 1.1

Managerial Economics (MIDTERMS) 1.1

University

40 Qs

quiz-placeholder

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Managerial Economics (MIDTERMS) 1.1

Managerial Economics (MIDTERMS) 1.1

Assessment

Quiz

Others

University

Easy

Created by

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Used 2+ times

FREE Resource

40 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

is the study of how society manages its scarce resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

is the condition where once and needs of people are not satisfied because of limited resources

Shortage

Scarcity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

is a temporary condition where demand on a certain commodity or service cannot be met by the current supply

Shortage

Scarcity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

is a perpetual condition that economists always need to solve because our wants, needs, and satisfaction are unlimited

Shortage

Scarcity

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Economics is a science

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

it means at any maximum output with the least possible input

effectiveness

efficiency

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

it can be attained by getting the desired outcome

effectiveness

efficiency

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