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review unit 1-unit 4

Authored by Nguyễn Ly

English

University

Used 1+ times

review unit 1-unit 4
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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. The  approach to production, using a resource combination which includes a small capital and much labour is…………….

capital-intensive

labour-intensive

money-intensive

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2.......................is the periodic changes or the up and downs in the level of a nations economic activity.

demand

utility

supply

business cycle

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

………………in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage.

suppliers

seller

buyers

producers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

………….. is a specific type of oligopoly where only two producers exist in one market.4

monopoly

duopoly

perfect competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Microeconomics is  a branch of economics that studies the …………. …of individuals and small impacting organizations in making decisions on the allocation of limited resource.

activities

behaviours

action

attitudes

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a market economy,……………………….are the major decision makers of what to produce

buyers

sellers

government

manufacturers

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

……..describe a market in which there is only one seller or a very limited number of sellers

monopoly

perfect competition

market failure

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