Bus 475 final exam 100 questions with answers 2nd set answers are hererenat88
This document provides the questions and answers to the BUS 475 Final Exam. It begins by stating "BUS 475 Final Exam 100 Questions with Answers 2nd Set Answers are HERE!" and lists 31 multiple choice questions related to accounting, economics, management, and entrepreneurship, along with their corresponding answers.
Bus 475 final Exam best solution http://take-exams.com/tutorials/view/41-bus-...takeExams
This document contains a 50 question multiple choice exam covering topics in business, accounting, statistics, and management. The exam tests knowledge in areas such as accounting principles, financial statements, budgeting, cost-volume-profit analysis, regression, quality control, linear programming, and project management. Students must demonstrate understanding of key concepts, formulas, and analytical methods across various business disciplines.
This document contains the answers to a final exam for an accounting course. It lists multiple choice questions and answers related to performance reports, budgets, the roles of accountants, financial statements, accounting principles, and other accounting topics. The questions assess understanding of key concepts in management, financial, tax, and cost accounting.
This document contains an end-of-unit test for a business course. The test has multiple choice and fill-in-the-blank questions to assess students' understanding of business concepts and passages. It covers topics like marketing, consumer behavior, and the global economy. The test has 3 sections - language knowledge, language use, and listening comprehension. Students are instructed to answer questions based on passages and conversations provided in the test.
This document contains an end-of-unit test for a business course. The test has multiple choice and fill-in-the-blank questions to assess students' language knowledge and usage. It also includes passages for reading comprehension, tables for analysis, and conversations/talks for listening comprehension. The test covers topics like marketing, business management, and the economy. It aims to evaluate students' understanding of key business concepts and their ability to apply language skills in business contexts.
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
This document contains a quiz for FIN 320 Week 2 at Strayer University. It includes 73 multiple choice questions testing concepts related to financial assets and markets, including household assets, real vs financial assets, securities markets, investment strategies, and financial intermediaries. The questions assess understanding of key terms and concepts from Chapter 1 such as asset allocation, security selection, efficient markets, and agency problems.
Refer to the information provided in Figure 2.4 below to answer the .docxlorent8
Refer to the information provided in Figure 2.4 below to answer the questions that follow.
Figure 2.4
Refer to the information provided in Figure 2.5 below to answer the questions that follow.
1) production is the process by which
a) products are used by consumers.
b) resources are transformed into useful forms.
c) products are converted into capital.
d) resources are allocated and distributed.
.
2) Which of the following is a resource as the term is used by economists?
a) buildings
b) labor
c) land
d) all of the above
.
3) Economists refer to things that have already been produced that are in turn used to produce other goods and services as
a) land.
b) labor.
c) entrepreneurship.
d) capital.
.
4) According to the theory of ________, specialization and free trade will benefit all trade partners, even when some are absolutely
more efficient producers than others.
a) comparative advantage
b) absolute advantage
c) social equity
d) laissez-faire
.
5) Specialization and trade exploit differences in productivity across workers and
a) only benefit the exporter.
b) only benefit the importer
c) make everyone better off.
d) make everyone worse off
.
6) If a vintner has a comparative advantage in producing wine
a) he can produce more wine using the same resources than other vintners.
b) wine is the only product he can produce.
c) he can produce wine at a lower opportunity cost than other vintners.
d) he also has an absolute advantage in producing wine.
.
7) Which of the following is an act of economic "investment"?
a) The state legislature authorizes the sale of a state park
b) An entrepreneur buys 5000 shares of stock at $5 a share and then sells the stock at a profit for $60 a share.
c) A manufacturer purchases a new machinery system for his plant.
d) A teacher deposits $500 in a retirement account.
.
8) In economics, the creation of capital is referred to as
a) investment.
b) comparative advantage
c) consumption.
d) allocation.
.
9) When an economy is producing inside its production possibility frontier
a) production inefficiency occurs
b) only technological advances will allow it to increase production
c) it is efficient so long as it is producing what people want.
d) it must overcompensate by producing outside the curve to achieve efficiency.
.
10) According to Figure 2.4, Point A necessarily represents
a) an unattainable production point
b) only hybrid cars being produced
c) the economy's optimal production point.
d) what society wants.
.
11) According to Figure 2.4, Point F
a) is efficient and attainable
b) represents underallocation of resources
c) represents what the people want.
d) cannot be produced with the current state of technology
.
12) According to Figure 2.4, Point E necessarily represents
a) an impossible production point
b) technological advancement
c) overallocation of resources
d) only motorcycle.
Bus 475 final exam 100 questions with answers 2nd set answers are hererenat88
This document provides the questions and answers to the BUS 475 Final Exam. It begins by stating "BUS 475 Final Exam 100 Questions with Answers 2nd Set Answers are HERE!" and lists 31 multiple choice questions related to accounting, economics, management, and entrepreneurship, along with their corresponding answers.
Bus 475 final Exam best solution http://take-exams.com/tutorials/view/41-bus-...takeExams
This document contains a 50 question multiple choice exam covering topics in business, accounting, statistics, and management. The exam tests knowledge in areas such as accounting principles, financial statements, budgeting, cost-volume-profit analysis, regression, quality control, linear programming, and project management. Students must demonstrate understanding of key concepts, formulas, and analytical methods across various business disciplines.
This document contains the answers to a final exam for an accounting course. It lists multiple choice questions and answers related to performance reports, budgets, the roles of accountants, financial statements, accounting principles, and other accounting topics. The questions assess understanding of key concepts in management, financial, tax, and cost accounting.
This document contains an end-of-unit test for a business course. The test has multiple choice and fill-in-the-blank questions to assess students' understanding of business concepts and passages. It covers topics like marketing, consumer behavior, and the global economy. The test has 3 sections - language knowledge, language use, and listening comprehension. Students are instructed to answer questions based on passages and conversations provided in the test.
This document contains an end-of-unit test for a business course. The test has multiple choice and fill-in-the-blank questions to assess students' language knowledge and usage. It also includes passages for reading comprehension, tables for analysis, and conversations/talks for listening comprehension. The test covers topics like marketing, business management, and the economy. It aims to evaluate students' understanding of key business concepts and their ability to apply language skills in business contexts.
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
This document contains a quiz for FIN 320 Week 2 at Strayer University. It includes 73 multiple choice questions testing concepts related to financial assets and markets, including household assets, real vs financial assets, securities markets, investment strategies, and financial intermediaries. The questions assess understanding of key terms and concepts from Chapter 1 such as asset allocation, security selection, efficient markets, and agency problems.
Refer to the information provided in Figure 2.4 below to answer the .docxlorent8
Refer to the information provided in Figure 2.4 below to answer the questions that follow.
Figure 2.4
Refer to the information provided in Figure 2.5 below to answer the questions that follow.
1) production is the process by which
a) products are used by consumers.
b) resources are transformed into useful forms.
c) products are converted into capital.
d) resources are allocated and distributed.
.
2) Which of the following is a resource as the term is used by economists?
a) buildings
b) labor
c) land
d) all of the above
.
3) Economists refer to things that have already been produced that are in turn used to produce other goods and services as
a) land.
b) labor.
c) entrepreneurship.
d) capital.
.
4) According to the theory of ________, specialization and free trade will benefit all trade partners, even when some are absolutely
more efficient producers than others.
a) comparative advantage
b) absolute advantage
c) social equity
d) laissez-faire
.
5) Specialization and trade exploit differences in productivity across workers and
a) only benefit the exporter.
b) only benefit the importer
c) make everyone better off.
d) make everyone worse off
.
6) If a vintner has a comparative advantage in producing wine
a) he can produce more wine using the same resources than other vintners.
b) wine is the only product he can produce.
c) he can produce wine at a lower opportunity cost than other vintners.
d) he also has an absolute advantage in producing wine.
.
7) Which of the following is an act of economic "investment"?
a) The state legislature authorizes the sale of a state park
b) An entrepreneur buys 5000 shares of stock at $5 a share and then sells the stock at a profit for $60 a share.
c) A manufacturer purchases a new machinery system for his plant.
d) A teacher deposits $500 in a retirement account.
.
8) In economics, the creation of capital is referred to as
a) investment.
b) comparative advantage
c) consumption.
d) allocation.
.
9) When an economy is producing inside its production possibility frontier
a) production inefficiency occurs
b) only technological advances will allow it to increase production
c) it is efficient so long as it is producing what people want.
d) it must overcompensate by producing outside the curve to achieve efficiency.
.
10) According to Figure 2.4, Point A necessarily represents
a) an unattainable production point
b) only hybrid cars being produced
c) the economy's optimal production point.
d) what society wants.
.
11) According to Figure 2.4, Point F
a) is efficient and attainable
b) represents underallocation of resources
c) represents what the people want.
d) cannot be produced with the current state of technology
.
12) According to Figure 2.4, Point E necessarily represents
a) an impossible production point
b) technological advancement
c) overallocation of resources
d) only motorcycle.
Managerial Economics: Concept of Economy, Economics, Microeconomics, Macroeconomics. Nature and
Scope of Managerial Economics, Managerial Economics and decision-making. Concept of Firm, Market, Objectives of
Firm: Profit Maximization Model, Economist Theory of the Firm, Cyert and March’s Behavior Theory, Marris’ Growth
Maximisation Model, Baumol’s Static and Dynamic Models, Williamson’s Managerial Discretionary Theory. (6+1)
2. Utility & Demand Analysis: Utility – Meaning, Utility analysis, Measurement of utility, Law of diminishing
marginal utility, Indifference curve, Consumer’s equilibrium - Budget line and Consumer surplus. Demand - Concept of
Demand, Types of Demand, Determinants of Demand, Law of Demand, Elasticity of Demand, Exceptions to Law of
Demand. Uses of the concept of elasticity. Forecasting: Introduction, Meaning and Forecasting, Level of Demand
Forecasting, Criteria for Good Demand Forecasting, Methods of Demand Forecasting, Survey Methods, Statistical
Methods, Qualitative Methods, Demand Forecasting for a New Products. (Demand Forecasting methods - Conceptual
treatment only numericals not expected) (8+1)
3. Supply & Market Equilibrium: Introduction, Meaning of Supply and Law of Supply, Exceptions to the Law of
Supply, Changes or Shifts in Supply. Elasticity of supply, Factors Determining Elasticity of Supply, Practical Importance,
Market Equilibrium and Changes in Market Equilibrium. Production Analysis: Introduction, Meaning of Production and
Production Function, Cost of Production. Cost Analysis: Private costs and Social Costs, Accounting Costs and Economic
costs, Short run and Long Run costs, Economies of scale, Cost-Output Relationship - Cost Function, Cost-Output
Relationships in the Short Run, and Cost-Output Relationships in the Long Run. (8+1)
4. Revenue Analysis and Pricing Policies: Introduction, Revenue: Meaning and Types, Relationship between
Revenues and Price Elasticity of Demand
3Final ExaminationBAM 223 Principles of EconomicsM.docxtamicawaysmith
3
Final Examination
BAM 223 Principles of Economics
Multiple Choice Questions (Enter your answers on the enclosed answer sheet)
An economic ________ is a simplified version of some aspect of economic life used to analyze 1.
an economic issue.
variablea.
marketb.
modelc.
trade-off d.
Scenario 1-2
Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of
$5,000 per week. The plant owner observes, “Although the last 300 hats we produced and
sold increased our revenue by $1,000 and our costs by $1,100, we are still making an
overall profit of $5,000 per week so I think we’re on the right track. We are producing the
optimal number of hats.”
Refer to Scenario 1-2. Had the firm not produced and sold the last 300 hats, would its profit 2.
be higher or lower, and if so by how much?
Its profit will be $1,100 higher. a.
Its profit will be $1,000 lower. b.
Its profit will be $100 lower.c.
Its profit will be $100 higher. d.
The term market in economics refers to: 3.
a place where money changes hands.a.
a legal institution where exchange can take place.b.
a group of buyers and sellers of a product and the arrangement by which they come c.
together to trade.
an organization which sells goods and services. d.
Scenario 1-3
Suppose a t-shirt manufacturer currently sells 5,000 t-shirts per week and makes a profit of
$10,000 per week. A manager at the plant observes, “Although the last 400 t-shirts we
produced and sold increased our revenue by $4,000 and our costs by $4,800, we are still
making an overall profit of $10,000 per week so I think we’re on the right track. We are
producing the optimal number of t-shirts.”
Refer to Scenario 1-3. Using marginal analysis terminology, what is another economic term 4.
for the incremental cost of producing the last 400 t-shirts?
marginal costa.
explicit costb.
operating costc.
Any of the above terms are correct.d.
4
Final Examination
BAM 223 Principles of Economics
Suppose the U.S. government encouraged new teachers to take jobs in underperforming 5.
schools by paying the new teachers a $20,000 bonus. These teachers would be exemplifying
the economic idea that:
people respond to economic incentivesa.
people are rationalb.
optimal decisions are made at the marginc.
equity is more important than efficiency d.
Dr. Goldfinger decides to invest in companies which he believes can “improve the 6.
productivity and efficiency” of health care services. How can Dr. Goldfinger strive to achieve
this productive efficiency?
by investing in companies that produce goods and services at the lowest possible costa.
by investing in companies that produce up to the point where the marginal benefit of the b.
last unit produced is equal to the marginal cost of producing it.
by investing in companies that fairly distribute their products and servicesc.
by investing in companies that produce goods and services based on consumer d.
preferences ...
Bus 475 final exam 5th set 100 questions with answers answers are hererenat88
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Solutions manual for economics 4th edition by krugman ibsn 9781464143847Kinicki223
Solutions Manual for Economics 4th Edition by Krugman IBSN 9781464143847
Download at: https://goo.gl/cXtEMa
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Bell Company, a manufacturer of audio systems, started its product.docxikirkton
Bell Company, a manufacturer of audio systems, started its production in October 2014. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory.
Raw materials cost for an audio system will total $75 per unit. Workers on the production lines are on average paid $14 per hour. An audio system usually takes 6 hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,008 per month. Indirect materials cost $6 per system. A supervisor was hired to oversee production; her monthly salary is $3,455.
Factory janitorial costs are $2,164 monthly. Advertising costs for the audio system will be $9,292 per month. The factory building depreciation expense is $6,384 per year. Property taxes on the factory building will be $8,472 per year.
Assuming that Bell manufactures, on average, 1,598 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.
Product Costs
Cost Item
Direct
Materials
Direct
Labor
Manufacturing
Overhead
Period
Costs
Raw materials (1)
$
$
$
$
Wages for workers (2)
Rent on equipment
Indirect materials (3)
Factory supervisor’s salary
Janitorial costs
Advertising
Depreciation on factory building (4)
Property taxes on factory building (5)
$
$
$
$
ECON 201 Answer Sheet
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Short answer questions:
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Total:
Final Exam ECON 201 OL1-US1 Fall 2013
Weight of each multiple choice questions is 2 points. Weight of each short answer question is 4 points. Totally 100
points.
Name___________________________________
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best
completes the statement or answers the question.
1) Economics is best defined as the study of: 1) _______
A) inflation, unemployment, and economic growth.
B) financial decision-making.
C) choices made by people faced with scarcity.
D) how consumers make purchasing decisions.
2) Scarcity can best be defined as a situation in which: 2) _______
A) there are not enough goods to satisfy all of the buyers demands.
B) there is more than enough money to satisfy consumers wants.
C) resources are limited in quantity and can be used in different ways.
D) there are no buyers willing to purchase what sellers have produced.
3) Printing presses, forklifts and assembly plants are examples of which factor of production? 3) _______
A) entrepreneurship B) physical capital
C) human capital D) labor
4) Consumption Expenditures can be broken down into three categories: 4) ____ ...
The document contains a half-yearly economics examination for Class 12 with 23 multiple choice and long answer questions covering both microeconomics and macroeconomics concepts. The exam is divided into two parts, with Part A focusing on microeconomics topics like Giffen goods, production possibilities curve, opportunity cost and consumer behavior. Part B covers macroeconomics concepts such as aggregate demand, inflation, fiscal and monetary policies. Students are instructed to answer all questions in clear language and within the allotted time of 3 hours.
This document provides an introduction to economics, including definitions, concepts, and models. It discusses:
1) The definitions of economics, microeconomics, and macroeconomics. Economics studies how scarce resources are allocated, while micro focuses on individual units and macro on aggregate data.
2) The concepts of scarcity, choice, and opportunity cost. Resources are limited so societies must choose how to allocate them. The opportunity cost is the next best alternative forgone.
3) The production possibilities frontier model. This curve illustrates the tradeoff between two goods based on available resources, showing attainable, inefficient, and unattainable points. It also demonstrates opportunity costs between points.
Bus 475 guide 1 54) When customers access a Web site and make purchases, t...jackkumaran
54) When customers access a Web site and make purchases, they generate __________.
A. Web data
B. Tracking cookies
C. Information
D. Clickstream data
E. Hyperlink data
Read more: http://en.wikipedia.org/wiki/HTTP_cookie
http://chris.pirillo.com/what-is-a-tracking-cookie/
Bus 475 guide 1 58) The management cockpit best exemplifies which type of s...jackkumaran
58) The management cockpit best exemplifies which type of system?
A. Decision support system
B. Functional area information system
C. Expert system
D. Digital dashboard
E. Group decision support system
Read more: http://www.ap.atosorigin.com/en-us/services/solutions/consulting/management_consulting/management_cockpit/default.htm
Bus 475 guide 1 56) Which of the following is not a source for external dat...jackkumaran
56) Which of the following is not a source for external data?
A. commercial databases
B. satellites
C. corporate databases
D. sensors
E. government reports
Read more: http://spireproject.com/database.htm
Bus 475 guide 1 50) Which one of the following statements concerning producti...jackkumaran
50) Which one of the following statements concerning production and staffing plans is best?
A. When production and staffing plans are made, aggregation can be performed only along two dimensions: products and time.
B. Production and staffing plans specify production rates, workforce levels, and inventory holdings, but do not account for capacity limitations because they are aggregated.
C. Production and staffing plans attempt to achieve several objectives, all of which must be consistent with one another.
D. The impact of production and staffing plans cuts across several functional areas of the firm.
Bus 475 guide 1 53) Fundamental points about network computing in organizatio...jackkumaran
53) Fundamental points about network computing in organizations include all of the following except:
A. Networks have had limited impact on organizational productivity
B. Computers constantly exchange data
C. Computer data exchange provides significant advantages to organizations
D. Networks can be of any size, from small to enormous
E. Networks support new ways of doing business
Read more: http://www.opengroup.org/onlinepubs/7619899/toc.htm
Bus 475 guide 1 51) Queuing models use an A/B/C notation. What do these varia...jackkumaran
51) Queuing models use an A/B/C notation. What do these variables represent?
A. maximum time between arrivals/maximum allowable service time/maximum number of parallel servers
B. distribution of time between arrivals/distribution of service times/number of parallel servers
C. average time between arrivals/average service time/number of parallel servers
D. minimum time between arrivals/minimum allowable service time/minimum number of parallel servers
Read more: http://en.wikipedia.org/wiki/Queueing_model http://it.toolbox.com/blogs/enterprise-solutions/queuing-theory-models-14995
Bus 475 guide 1 41) ABC International carefully watches the actions of its mo...jackkumaran
41) ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by:
A. Mass-producing products that have an established market niche
B. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials
C. Making subtle changes to the product, thereby avoiding patent restrictions
D. Learning from the leader thereby avoiding the costs and risks of technology leadership
E. Technology followers are not successful at low-cost strategies
Bus 475 guide 1 C. functional area information system D. dashboard E. offic...jackkumaran
C. functional area information system
D. dashboard
E. office automation system
Read more: http://en.wikipedia.org/wiki/Transaction_processing_system
http://www.bestpricecomputers.co.uk/glossary/transaction-processing-systems.htm
Bus 475 guide 1 65) Exchange rate risk: A. has been phased out due to rece...jackkumaran
65) Exchange rate risk:
A. has been phased out due to recent international legislation.
B. arises from the fact that the spot exchange rate on a future date is a random variable.
C. applies only to certain types of domestic businesses.
D. doesn’t affect trades made in US Dollars.
Read more: http://www.investorwords.com/1808/exchange_rate_risk.html
http://moneyterms.co.uk/exchange-rate-risk/
Bus 475 guide 1 60) International Game Technology’s new ERP system produced a...jackkumaran
60) International Game Technology’s new ERP system produced all of the following benefits except:
A. The company gained flexibility in manufacturing products
B. Integrated the company’s business functions
C. Company was able to maintain its original business processes
D. ERP system connected the company’s global operations
E. Operations employees were able to access manufacturing process details at their workstations
Bus 475 guide 1 48) Suppose that the optimal values of the decision variab...jackkumaran
48) Suppose that the optimal values of the decision variables to a two-variable linear programming problem remain the same as long as the slope of the objective function lies between the slopes of the following two constraints:
2X1 + 3X2 26
2X1 + 2X2 20
The current objective function is:
8X1 + 9X2 = Z
Which of the following statements about the range of optimality on c1 is TRUE?
A. 0 c1 2
B. 9 c1 12
C. 2 c1 6
D. 6 c1 9
Colby Hobson: Residential Construction Leader Building a Solid Reputation Thr...dsnow9802
Colby Hobson stands out as a dynamic leader in the residential construction industry. With a solid reputation built on his exceptional communication and presentation skills, Colby has proven himself to be an excellent team player, fostering a collaborative and efficient work environment.
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Scope of Managerial Economics, Managerial Economics and decision-making. Concept of Firm, Market, Objectives of
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3Final ExaminationBAM 223 Principles of EconomicsM.docxtamicawaysmith
3
Final Examination
BAM 223 Principles of Economics
Multiple Choice Questions (Enter your answers on the enclosed answer sheet)
An economic ________ is a simplified version of some aspect of economic life used to analyze 1.
an economic issue.
variablea.
marketb.
modelc.
trade-off d.
Scenario 1-2
Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of
$5,000 per week. The plant owner observes, “Although the last 300 hats we produced and
sold increased our revenue by $1,000 and our costs by $1,100, we are still making an
overall profit of $5,000 per week so I think we’re on the right track. We are producing the
optimal number of hats.”
Refer to Scenario 1-2. Had the firm not produced and sold the last 300 hats, would its profit 2.
be higher or lower, and if so by how much?
Its profit will be $1,100 higher. a.
Its profit will be $1,000 lower. b.
Its profit will be $100 lower.c.
Its profit will be $100 higher. d.
The term market in economics refers to: 3.
a place where money changes hands.a.
a legal institution where exchange can take place.b.
a group of buyers and sellers of a product and the arrangement by which they come c.
together to trade.
an organization which sells goods and services. d.
Scenario 1-3
Suppose a t-shirt manufacturer currently sells 5,000 t-shirts per week and makes a profit of
$10,000 per week. A manager at the plant observes, “Although the last 400 t-shirts we
produced and sold increased our revenue by $4,000 and our costs by $4,800, we are still
making an overall profit of $10,000 per week so I think we’re on the right track. We are
producing the optimal number of t-shirts.”
Refer to Scenario 1-3. Using marginal analysis terminology, what is another economic term 4.
for the incremental cost of producing the last 400 t-shirts?
marginal costa.
explicit costb.
operating costc.
Any of the above terms are correct.d.
4
Final Examination
BAM 223 Principles of Economics
Suppose the U.S. government encouraged new teachers to take jobs in underperforming 5.
schools by paying the new teachers a $20,000 bonus. These teachers would be exemplifying
the economic idea that:
people respond to economic incentivesa.
people are rationalb.
optimal decisions are made at the marginc.
equity is more important than efficiency d.
Dr. Goldfinger decides to invest in companies which he believes can “improve the 6.
productivity and efficiency” of health care services. How can Dr. Goldfinger strive to achieve
this productive efficiency?
by investing in companies that produce goods and services at the lowest possible costa.
by investing in companies that produce up to the point where the marginal benefit of the b.
last unit produced is equal to the marginal cost of producing it.
by investing in companies that fairly distribute their products and servicesc.
by investing in companies that produce goods and services based on consumer d.
preferences ...
Bus 475 final exam 5th set 100 questions with answers answers are hererenat88
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Solutions manual for economics 4th edition by krugman ibsn 9781464143847Kinicki223
Solutions Manual for Economics 4th Edition by Krugman IBSN 9781464143847
Download at: https://goo.gl/cXtEMa
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Bell Company, a manufacturer of audio systems, started its product.docxikirkton
Bell Company, a manufacturer of audio systems, started its production in October 2014. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory.
Raw materials cost for an audio system will total $75 per unit. Workers on the production lines are on average paid $14 per hour. An audio system usually takes 6 hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,008 per month. Indirect materials cost $6 per system. A supervisor was hired to oversee production; her monthly salary is $3,455.
Factory janitorial costs are $2,164 monthly. Advertising costs for the audio system will be $9,292 per month. The factory building depreciation expense is $6,384 per year. Property taxes on the factory building will be $8,472 per year.
Assuming that Bell manufactures, on average, 1,598 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.
Product Costs
Cost Item
Direct
Materials
Direct
Labor
Manufacturing
Overhead
Period
Costs
Raw materials (1)
$
$
$
$
Wages for workers (2)
Rent on equipment
Indirect materials (3)
Factory supervisor’s salary
Janitorial costs
Advertising
Depreciation on factory building (4)
Property taxes on factory building (5)
$
$
$
$
ECON 201 Answer Sheet
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Short answer questions:
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Final Exam ECON 201 OL1-US1 Fall 2013
Weight of each multiple choice questions is 2 points. Weight of each short answer question is 4 points. Totally 100
points.
Name___________________________________
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best
completes the statement or answers the question.
1) Economics is best defined as the study of: 1) _______
A) inflation, unemployment, and economic growth.
B) financial decision-making.
C) choices made by people faced with scarcity.
D) how consumers make purchasing decisions.
2) Scarcity can best be defined as a situation in which: 2) _______
A) there are not enough goods to satisfy all of the buyers demands.
B) there is more than enough money to satisfy consumers wants.
C) resources are limited in quantity and can be used in different ways.
D) there are no buyers willing to purchase what sellers have produced.
3) Printing presses, forklifts and assembly plants are examples of which factor of production? 3) _______
A) entrepreneurship B) physical capital
C) human capital D) labor
4) Consumption Expenditures can be broken down into three categories: 4) ____ ...
The document contains a half-yearly economics examination for Class 12 with 23 multiple choice and long answer questions covering both microeconomics and macroeconomics concepts. The exam is divided into two parts, with Part A focusing on microeconomics topics like Giffen goods, production possibilities curve, opportunity cost and consumer behavior. Part B covers macroeconomics concepts such as aggregate demand, inflation, fiscal and monetary policies. Students are instructed to answer all questions in clear language and within the allotted time of 3 hours.
This document provides an introduction to economics, including definitions, concepts, and models. It discusses:
1) The definitions of economics, microeconomics, and macroeconomics. Economics studies how scarce resources are allocated, while micro focuses on individual units and macro on aggregate data.
2) The concepts of scarcity, choice, and opportunity cost. Resources are limited so societies must choose how to allocate them. The opportunity cost is the next best alternative forgone.
3) The production possibilities frontier model. This curve illustrates the tradeoff between two goods based on available resources, showing attainable, inefficient, and unattainable points. It also demonstrates opportunity costs between points.
Bus 475 guide 1 54) When customers access a Web site and make purchases, t...jackkumaran
54) When customers access a Web site and make purchases, they generate __________.
A. Web data
B. Tracking cookies
C. Information
D. Clickstream data
E. Hyperlink data
Read more: http://en.wikipedia.org/wiki/HTTP_cookie
http://chris.pirillo.com/what-is-a-tracking-cookie/
Bus 475 guide 1 58) The management cockpit best exemplifies which type of s...jackkumaran
58) The management cockpit best exemplifies which type of system?
A. Decision support system
B. Functional area information system
C. Expert system
D. Digital dashboard
E. Group decision support system
Read more: http://www.ap.atosorigin.com/en-us/services/solutions/consulting/management_consulting/management_cockpit/default.htm
Bus 475 guide 1 56) Which of the following is not a source for external dat...jackkumaran
56) Which of the following is not a source for external data?
A. commercial databases
B. satellites
C. corporate databases
D. sensors
E. government reports
Read more: http://spireproject.com/database.htm
Bus 475 guide 1 50) Which one of the following statements concerning producti...jackkumaran
50) Which one of the following statements concerning production and staffing plans is best?
A. When production and staffing plans are made, aggregation can be performed only along two dimensions: products and time.
B. Production and staffing plans specify production rates, workforce levels, and inventory holdings, but do not account for capacity limitations because they are aggregated.
C. Production and staffing plans attempt to achieve several objectives, all of which must be consistent with one another.
D. The impact of production and staffing plans cuts across several functional areas of the firm.
Bus 475 guide 1 53) Fundamental points about network computing in organizatio...jackkumaran
53) Fundamental points about network computing in organizations include all of the following except:
A. Networks have had limited impact on organizational productivity
B. Computers constantly exchange data
C. Computer data exchange provides significant advantages to organizations
D. Networks can be of any size, from small to enormous
E. Networks support new ways of doing business
Read more: http://www.opengroup.org/onlinepubs/7619899/toc.htm
Bus 475 guide 1 51) Queuing models use an A/B/C notation. What do these varia...jackkumaran
51) Queuing models use an A/B/C notation. What do these variables represent?
A. maximum time between arrivals/maximum allowable service time/maximum number of parallel servers
B. distribution of time between arrivals/distribution of service times/number of parallel servers
C. average time between arrivals/average service time/number of parallel servers
D. minimum time between arrivals/minimum allowable service time/minimum number of parallel servers
Read more: http://en.wikipedia.org/wiki/Queueing_model http://it.toolbox.com/blogs/enterprise-solutions/queuing-theory-models-14995
Bus 475 guide 1 41) ABC International carefully watches the actions of its mo...jackkumaran
41) ABC International carefully watches the actions of its most innovative competitor and learns from them. ABC can establish a low-cost position by:
A. Mass-producing products that have an established market niche
B. Producing an imitation of the new technology that utilizes lower-quality and lower-cost materials
C. Making subtle changes to the product, thereby avoiding patent restrictions
D. Learning from the leader thereby avoiding the costs and risks of technology leadership
E. Technology followers are not successful at low-cost strategies
Bus 475 guide 1 C. functional area information system D. dashboard E. offic...jackkumaran
C. functional area information system
D. dashboard
E. office automation system
Read more: http://en.wikipedia.org/wiki/Transaction_processing_system
http://www.bestpricecomputers.co.uk/glossary/transaction-processing-systems.htm
Bus 475 guide 1 65) Exchange rate risk: A. has been phased out due to rece...jackkumaran
65) Exchange rate risk:
A. has been phased out due to recent international legislation.
B. arises from the fact that the spot exchange rate on a future date is a random variable.
C. applies only to certain types of domestic businesses.
D. doesn’t affect trades made in US Dollars.
Read more: http://www.investorwords.com/1808/exchange_rate_risk.html
http://moneyterms.co.uk/exchange-rate-risk/
Bus 475 guide 1 60) International Game Technology’s new ERP system produced a...jackkumaran
60) International Game Technology’s new ERP system produced all of the following benefits except:
A. The company gained flexibility in manufacturing products
B. Integrated the company’s business functions
C. Company was able to maintain its original business processes
D. ERP system connected the company’s global operations
E. Operations employees were able to access manufacturing process details at their workstations
Bus 475 guide 1 48) Suppose that the optimal values of the decision variab...jackkumaran
48) Suppose that the optimal values of the decision variables to a two-variable linear programming problem remain the same as long as the slope of the objective function lies between the slopes of the following two constraints:
2X1 + 3X2 26
2X1 + 2X2 20
The current objective function is:
8X1 + 9X2 = Z
Which of the following statements about the range of optimality on c1 is TRUE?
A. 0 c1 2
B. 9 c1 12
C. 2 c1 6
D. 6 c1 9
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Economic Analysis for Business Decisions MCQs | Economics MCQs
1. Semester I Study Material Semester II Study Material
https://mbamcqs.blogspot.in
102 Economic Analysis for Business
Decisions EABD I MBA MCQs I SPPU
2. 1. In a free-market economy the allocation of resources is determined by:
A. .....2.J Votes taken by consumers
B. .....2.J A central planning authority
C. .....2.J By consumer preferences
D. .....2.J The level of profits of firms
2. A rational person does not act unless:
A. .....2.J The action is ethical
Show questions one by one I
B. .....2.J The action produces marginal costs that exceed marginal benefits
C. .....2.J he action produces marginal benefits that exceed marginal costs
D. .....2.J The action makes money for the person
3. Economics is a ----- science which deals with human wants and their satisfaction.
A .....2.J Social
B. .....2.J Political
C. .....2.J Natural
D. .....2.J Physical
4. ------ defined economics as a study of mankind in the ordinary business of life.
A. .....2.J Adam smith
B. .....2.J Samuelson
C. .....2.J Lionel Robbins
D. .....2.J Alfred Marshall
5. The growth of an economy is indicated by an
A. .....2.J Increase in savings
Economic Analysis for Business Decisions MCQs
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3. B.� Increase in investment
C.� Increase in general prices
D. � Increase in national income
6. ----------equals revenue minus all explicit costs.
A.� Accounting profit
B.� Economic profit
C.� Normal profit
D.� Loss
7. The father of New Economics is
A.� Marshall
B.� J.M.Keynes
C.� Adam Smith
D.� Karl Marx
8. The ----- problem refers to the possibility that owners and their managers may have
different objectives.
A.� Company- Manager problem
B.� Principal-Agent Problem
C.� Firm-Employee problem
D.� Problem of different objectives
9. Economic profit refers to --- minus all relevant costs , both explicit and implicit.
A.� Profit
B.� Cost
C.� Expenses
D. � Revenues
Economic Analysis for Business Decisions MCQs
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4. 10. The interaction of individuals and firms in a market can be described as a ----- of money,
goods and services and resources through product and factor markets.
A. ___:J Constant flow
B. --2..J Stable flow
c.___:J Circular Flow
o.___:J Regular Flow
11. ----- focuses on the behavior of the individual actors on the economic stage , that is, firms
and individuals and their interaction in markets.
A. ___:j Macroeconomics
B. ___:j Microeconomics
C. ___:j Managerial Economics
D.--2..J Economics
12. In free market economy, the organization and interaction of producers and consumers is
accomplished through the ---- system
A. --2..J Price
B. ___:J Cost
c.--2..J Profit
o.___:J Revenue
13. An economic system:
A. ___:j Requires a grouping of private markets linked to one another.
B. --2..J Is a particular set of institutional arrangements and a coordinating mechanism used to
respond to the economizing problem.
C.--2..J Requires some sort of centralized authority (such as government) to coordinate
economic activity
D. ___:j Is a plan or scheme that allows a firm to make money at some other firm's expense
14. The regulatory mechanism of the market system is:
A. ___:j Self-interest.
Economic Analysis for Business Decisions MCQs
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5. B. � Private property
C. � Competition
D. � Specialization.
15. Which of the following is not an economic cost?
A.� Wages
B. � Rents.
C. � Economic profits.
D. � Payments made to the entrepreneur for organizing production
16. From society's point of view the economic function of profits and losses is to:
A.� Promote the equal distribution of real assets and wealth.
B. � Achieve full employment and price level stability.
C. � Contribute to a more equal distribution of income.
D. � Reallocate resources from less desired to more desired uses.
17. The invisible hand refers to the:
A.� Fact that the U.S. tax system redistributes income from rich to poor.
B. � Notion that, under competition, decisions motivated by self-interest promote the social
interest
C. � Tendency of monopolistic sellers to raise prices above competitive levels
D. � Fact that government controls the functioning of the market system.
18. The invisible-hand concept suggests that: .
A.� Market failures imply the need for a national economic plan.
B. � Big businesses are inherently more efficient than small businesses.
C. � The competitiveness of a capitalistic market economy invariably diminishes over time.
D. � Assuming competition, private and public interests will coincide
Economic Analysis for Business Decisions MCQs
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6. 19. Two major virtues of the market system are that it:
A. ....:J Allocates resources efficiently and allows economic freedom.
B. .....2.J Results in an equitable personal distribution of income and always maintains full
employment.
C. ....:J Results in price level stability and a fair personal distribution of income.
D. ....:J Eliminates discrimination and minimizes environmental pollution.
20. The simple circular flow model shows that:
A. ....:J Households are on the buying side of both product and resource markets.
B. .....2.J Businesses are on the selling side of both product and resource markets.
C. ....:J Households are on the selling side of the resource market and on the buying side of
the
product market.
D. .....2.J Businesses are on the buying side of the product market and on the selling side of
the resource
market.
Economic Analysis for Business Decisions MCQs
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mbamcqs.blogspot.com/2018/03/
economic-analysis-for-business-
decisions-mcq.html
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