16064675
Descripción
Test por Niki Barnes, actualizado hace más de 1 año
|
Creado por Niki Barnes
hace más de 5 años
|
|
Pregunta 1
Pregunta
A perfectly competitive business is a _________ , or it accepts the price of the product it receives in the product market or it pays in the input as given.
Respuesta
-
Monopsony
-
Price Taker
-
Interdependent
Pregunta 2
Pregunta
If the following conditions hold, an input or product market structure is considered perfectly competitive.
Respuesta
-
Homogeneous product, barriers for entry or exit, a large number of sellers, perfect information
-
Not homogeneous, no barriers for entry or exit, a large number of sellers, imperfect information
-
Homogeneous product, no barriers for entry or exit, a large number of sellers, perfect information
-
Homogeneous product, no barriers for entry or exit, a few sellers, perfect information
Pregunta 3
Pregunta
Classification of inputs
Respuesta
-
Land, Labor, Capital, and management
-
Renewable resources, Labor, Capital, business expansion
-
Non renewable resources, Labor, Durable equipment, Management
Pregunta 4
Pregunta
Classification of firms
Respuesta
-
Perfect Competition
-
Monopolistic Competition
-
Oligopoly
-
Monopoly
-
All of the Above
Pregunta 5
Pregunta
A production function characterizes the physical relationship between what?
Respuesta
-
The level of inputs and the use of output
-
The use of inputs and the level of output
Pregunta 6
Pregunta
When we graph the output and input relationship we come up with ________?
Respuesta
-
A market supply curve
-
A market demand curve
-
A total physical product curve
-
A total product demand curve
Pregunta 7
Pregunta
A market supply curve for a particular product generally has a positive slope.
Respuesta
- True
- False
Pregunta 8
Pregunta
The market supply curve for a particular product is based on the decisions of ________ and ____________ made by individual businesses in an industry
Respuesta
-
What and how much to produce
-
Where and what to produce
-
Why and how to produce
Pregunta 9
Pregunta
Legislative act that prohibited monopolies and other restrictive business practices
Respuesta
-
Federal Trade Commission Act
-
Clayton Act
-
Agricultural Bargaining Associations
-
Sherman Antitrust Act
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.