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A: Economy: It is the system of organizing money, industry, and trade of a country or region.
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- Question 25 One key advantage of social media for entrepreneurs is that it is usually easy to track conversion (customers taking a desired action, such as a purchase) and sales numbers. O True O False Question 26 Companies building better products for their best customers are pursuing what type of strategy? O Disruptive innovation O Low Cost Leader O Sustaining innovation O A and B Question 27 Wal-Mart is an example of what type of innovation? O Low Cost Leader O Low-Cost Disruption O Sustaining O Critical path Question 28. Apple's iPhone is a: O Sustaining innovation O Low Cost Disruption O New Market Disruption O Really Cool Innovation Question 29 Why did Blackberry lose market share? O Because it deviated from the job its customers wanted to hire O Because the iPhone was cooler O Because it tried to introduce its touch screen technology before all the bugs were worked out O Because its phones don't work well Question 30 In the Milkshake Sales and Profits scenario, what jobs were the…There are 3 pizza places in a small town. One has 50% market share, one has 40% market share, and one has 10% market share. What is the HHI for the pizza places? O 10,000 2,500 100 4,200The production possibility curve shows all the following except O a. Economic growth O b. The law of demand O c. The supply curve of 2 goods O d. The law of increasing opportunity cost O e. Inefficiency in production
- Suppose the president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease. What is the opportunity cost of spending more money to find a cure for heart disease? O A. The total explicit cost of the research to cure heart disease. OB. The reduction in funding for research to cure other diseases. O C. The monetary value of a human life. O D. The cost of the Medicare/Medicaid program. O E. The reduction in future health-related costs of heart disease. How should policymakers determine the amount of money that should be allocated for research curing heart disease? They should base their decision on O A. the number of people who have heart disease compared to the number of people who have other diseases. O B. whether the last dollar devoted to research on heart disease results in more benefit than the last dollar spent on research for curing other diseases. O C. the value of the total benefit of research on curing other…When it comes to getting a college education, most people consider not O their self-interest; the social interest O the social interest; their self-interest their costs; their benefits their public interest; their social initerestLooking at the scope of central planning in the Soviet Union post WW-II, between 1951 and 1960 the number of items for which output targets were set O a. increased from 1,600 items to 12,750 items. O b. increased from 10 items to 525 items. O c. decreased from 25,482 items to 16,351 items. O d. decreased tom 4,592 items to zero items (since central planning was abandoned in the country in 1960).
- Suppose the president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease. What is the opportunity cost of spending more money to find a cure for heart disease? O A. The total explicit cost of the research to cure heart disease. B. The reduction in funding for research to cure other diseases. C. The monetary value of a human life. D. The cost of the Medicare/Medicaid program. O E. The reduction in future health-related costs of heart disease.How should policymakers determine the amount of money that should be allocated for research curing heart disease? They should base their decision on O A. whether the last dollar devoted to research on heart disease results in more benefit than the last dollar spent on research for curing other diseases. O B. the number of people who die from heart disease compared to the number of people who die from other diseases. OC. the value of the total benefit of the research on heart disease. O D. the value of the total benefit of research on curing other diseases. O E. the number of people who have heart disease compared to the number of people who have other diseases.E3. It is where cities continuously grows, resources become scarce and people tend to seek new land for them to plant cops and other resources for their survival? O a. financial age O b. start-up age O c. explorer's age O d. information's age
- Someone might oppose the Clean Power Plan when its benefits exceed its costs because O A. climate change is not a scientific fact O B. for a given individual, the cost might exceed the benefit O C. the costs of the Clean Power Plan are excessive and will drive up electricity prices by too much O D. to agree with the Clean Power Plan is not making a decision at the marginSuppose Walmart has announced plans to seek approval from the planning commission of a small town to build a new store. Develop alist of the main arguments, pro and con, that could be presented at a public hearing on the matter by members of each of these groups: 1. Owners of small businesses located nearby.2. Town residents, and residents of nearby towns. How might a Walmart representative respond to the negative criticisms that might be brought up, and what other benefits could the representative offer the planning board to bolster Walmart’s case for gaining the board’s approval?Because businesses pay taxes, and taxes are the lifeblood of the government, it serves as the source of budgets. What benefit of entrepreneurship is being stated? O a. Elicits economic independence and capital information O b. Produces more jobs O c. Amplifies economic activities of different sectors of society. d. Controls the local wealth and balances regional development