Quiz
ECON 102 Chapter 2 Most Commonly Wrong
Questions in this quiz (3)
1Which of the following enables individuals and business to obtain, use and dispose of property resources as they see fit?
- APublic domain
- BPrivate property limits
- CFinancial means
- DFreedom to negotiate binding legal contracts
- EPrivate property rights
2Two or more buyers and two or more sellers acting independently with the freedom to enter and leave markets describes
- Afreedom of choice
- Bproperty rights
- Cfreedom of enterprise
- Dpursuit of public interest
- Ecompetition
3Which of the following summarizes the product market?
- AConsumer spending on goods and services yields sales revenues for businesses
- BBusinesses determine whether a good or service should continue to be produced based on revenues received from sales
- CGoods and services produced are bought and sold
- DThe government determines whether a good or service should continue to be produced based on revenues received from sales
- EHouseholds use income received from the sale of resources to buy goods and services
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- Description
- Business/Economics Quiz on ECON 102 Chapter 2 Most Commonly Wrong , created by Mari Magabo on 21/09/2016.
- Author
- Mari Magabo
- Language
- English
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