Multiple Choice
Which of the following best explains how your daily choices can affect the global economy?
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0. Basic Principles of Economics
Introduction to Economics
Back0. Basic Principles of Economics
Introduction to Economics
- Multiple ChoiceWhich one of the following is an example of a sunk cost?32views
- Multiple ChoiceIn the context of economics, which term best describes most goods and services produced at home for personal use rather than for sale in the market?38views
- Multiple ChoiceWhich of the following best describes the concept of opportunity cost in economics?49views
- Multiple ChoiceWhich of the following is determined by an economic system?33views
- Multiple ChoiceWhich of the following best describes how producers benefit from specialization?32views
- Multiple ChoiceWhich of the following is a disadvantage of bartering compared to using currency to purchase goods?24views
- Multiple ChoiceIf a company wishes to test market a product, it would do so to:27views
- Multiple ChoiceWhich of the following best describes a free market economy?62views
- Multiple ChoiceWhich of the following best describes products in a natural monopoly market?33views
- Multiple ChoiceWhich group makes up the overwhelming majority of U.S. exporters?32views
- Multiple ChoiceWhich market index is normally associated with tracking the performance of 30 large, publicly-owned companies based in the United States?24views
- Multiple ChoiceWhich of the following indicators do economists commonly use to determine the state of the economy?26views
- Multiple ChoiceSunk costs are costs that:24views
- Multiple ChoiceIf the company sells every unit it produces, which of the following statements is true about its inventory levels?22views