Tourism Economics - Final revision

Tourism Economics - Final revision

University

42 Qs

quiz-placeholder

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Tourism Economics - Final revision

Tourism Economics - Final revision

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

phuong Trinh

Used 4+ times

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42 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings are components of resources?

Land, labor, capital, and entrepreneur
Land, capital, and entrepreneur
Land, labor, capital, and companies

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can be the question to be answered when making choices about resource use and allocation?

What to produce?
What to buy?
What to sell?

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can best describe the shape of the Production possibility frontier?

Concave
Convex
Parabol

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can be the correct definition of centrally planned economies?

The economies that allow only state-owned firms who make production decisions.
The economies that allow only private ownership of firms.
The economies that allow both state-owned firms and private ownership of firms.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can be the correct definition of Microeconomics?

The study of behaviors made by individuals, households, and firms and it analyzes the interaction in particular markets to produce an equilibrium price and quantity sold.
The study of the whole economy and it analyzes aggregates and economic cycles.
The study of one extra unit.

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can best describe the firm's situation when MB < MC?

Should not expand
Reach equilibrium
Increase profits

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the followings can be the correct example of prestige goods?

Luxurious hotel rooms at Phu Quoc
Standard hotel rooms at Nha Trang
Motel rooms at Da Nang

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