Economics quiz!!!!
[03.01]An Wang is a pioneer of
digital technology.
medical research.
beauty products.
coffee cafes.
Question 2(Multiple Choice Worth 2 points)
[03.01]Margaret Rousseau developed techniques to mass-produce
cookies.
penicillin.
ammunitions.
beauty products.
Question 3(Multiple Choice Worth 2 points)
[03.01]James Cash Penney created a chain of
coffee houses.
upscale restaurants.
department stores.
commercial websites.
Question 4(Multiple Choice Worth 2 points)
[03.01]Samuel F.B. Morse patented the
telegraph.
automobile.
audio recorder.
radio transmitter.
Question 5(Multiple Choice Worth 2 points)
[03.01]Who contributed to the development of the United States?
men only
British only
a variety of people
a variety of just native-born people
Question 6(Multiple Choice Worth 2 points)
[03.02]You are starting a lawn-care business. Which of the following would be a needed land resource?
lawns
oil
lawnmower
hedge clippers
Question 7(Multiple Choice Worth 2 points)
[03.02]A delivery truck is an example of
land.
labor.
capital.
entrepreneurship.
Question 8(Multiple Choice Worth 2 points)
[03.02]An employee-training workshop is an example of
land.
labor.
capital.
entrepreneurship.
Question 9(Multiple Choice Worth 2 points)
[03.02]Which of the following is an example of physical capital?
gasoline
cash
labor
truck
Question 10(Multiple Choice Worth 2 points)
[03.02]Water is an example of
land.
labor.
capital.
entrepreneurship.
Question 11(Multiple Choice Worth 3 points)
[03.06]Which of the following is the least profitable investment for a cell phone company earning $10 per plan contract?
opening a new store location with $200 daily operating cost, generating 30 new plans per day
redesigning web site at $50 daily operating cost, generating 10 new plans per day
creating television commercial at $25 daily operating cost, generating 15 new plans per day
offering free $10 gift for every new plan, generating 40 new plans per day
Question 12(Multiple Choice Worth 3 points)
[03.06]Which of the following produces a $100 daily profit for a cell phone company earning $10 per plan contract?
opening a new store location with $200 daily operating cost, generating 30 new plans per day
redesigning web site at $50 daily operating cost, generating 10 new plans per day
creating television commercial at $25 daily operating cost, generating 15 new plans per day
offering free $10 gift for every new plan, generating 40 new plans per day
Question 13(Multiple Choice Worth 3 points)
[03.06]Usually capital investments
increase productivity.
decrease productivity.
cost too much to be worthwhile.
are outdated before the company can afford them.
Question 14(Multiple Choice Worth 3 points)
[03.06]Which is the least profitable investment for a candy shop that earns $1 profit per pound of candy?
worker at $10 per hour, producing 8 pounds of candy per hour
worker at $12 per hour, producing 16 pounds of candy per hour
machine with $5 per hour operating cost, producing 10 pounds of candy per hour
machine with $8 per hour operating cost, producing 14 pounds of candy per hour
Question 15(Multiple Choice Worth 3 points)
[03.04]The market structure that relies most heavily on nonprice competition is
monopolistic competition.
pure competition.
monopoly.
oligopoly.
Question 16(Multiple Choice Worth 3 points)
[03.04]”You can’t make a great peanut butter sandwich without Smuckers® jelly!” This advertisement targets your
fears.
rituals.
emotions.
social values.
Question 17(Multiple Choice Worth 3 points)
[03.04]”Don’t forget your sweetheart this Valentine’s Day. We’re having a sale on all chocolate!” This advertisement targets your
fears.
rituals.
emotions.
social values.
Question 18(Multiple Choice Worth 3 points)
[03.04]A firm’s purpose in nonprice competition is to
produce at the lowest cost possible.
encourage other firms to cooperate in setting prices.
establish extensive control of their particular market.
distinguish their products from those of other companies.
Question 19(Multiple Choice Worth 3 points)
[03.06]
Use this image to answer the following question. If there are only enough strawberries to produce 2 gallons of strawberry ice cream, how many gallons of chocolate ice cream can the shop efficiently produce?
0
4
12
15
Question 20(Multiple Choice Worth 3 points)
[03.06]
Use this image to answer the following question. If Marcy quits her job, how many classes can she efficiently take?
0
4
6
8
Question 21(Multiple Choice Worth 3 points)
[03.06]
Use this image to answer the following question. The ice cream shop needs about 2 pounds of cocoa for each gallon of chocolate ice cream. If the shop produces 8 gallons of strawberry ice cream, how many pounds of cocoa will it need for the most efficient production of chocolate ice cream?
12
16
