Economics Quiz

Economics is best defined as the study of 

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Economics is best defined as the study of 

Economics is best defined as the study of  Options   A) how people, businesses, governments, and societies choose abundance over scarcity. B) how people, businesses, governments, and societies make choices to cope with scarcity. C) how people, businesses, governments, and societies use their infinite resources.   What is the primary function of Dynamic Study Modules?

All of the following are advantages of decentralization except:

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All of the following are advantages of decentralization except:

All of the following are advantages of decentralization except:   Options:   a) Decentralization allows managers closest to the operations to make the decisions. b) Decentralization provides managers with excellent training. c) Decentralization helps retain managers. d) Decentralization delegates authority to top managers.  

Which of the following is a disadvantage of decentralization?

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Which of the following is a disadvantage of decentralization?

Which of the following is a disadvantage of decentralization?

a. Managers make decisions in only their areas of expertise.
b. It typically provides excellent training for managers.
c. Decisions made by one manager may not be the best decision for the entire company.
d. Managers work closely with customers.

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The economist’s objections to monopoly rest on which of the following grounds?

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The economist’s objections to monopoly rest on which of the following grounds?

The economist’s objections to monopoly rest on which of the following grounds?   Options: There is a transfer of income from consumers to the monopolist. There is welfare loss as resources tend to be misallocated under monopoly. Only A is correct. Both A and B are correct.