10. What is the willingness and ability of producers to offer a good for sale referred to as? A) Private enterprise B) Supply C) Free market economy D) Law of supply
10. What is the willingness and ability of producers to offer a good for sale referred to as? A) Private enterprise B) Supply C) Free market economy D) Law of supply
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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10. What is the willingness and ability of producers to offer a good for sale referred to as?
A) Private enterprise B) Supply
C) Free market economy
D) Law of supply
11. A key to business success is to decide in advance how to respond to the issues that
underlie all questions of ethics and
A) personnel complaints
B) compensatory damages.
C) governmental support
D) social responsibility
Transcribed Image Text:8. Which of the following occurs when someone uses confidential information to gain from
the purchase or sale of stocks?
A) identity theft
B) a margin purchase
C) insider trading
D) collusion
9. What is the environment where a firm conducts business known as
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
10. What is the willingness and ability of producers to offer a good for sale referred to as?
A) Private enterprise
B) Supply
C) Free market economy
D) Law of supply
11. A key to business success is to decide in advance how to respond to the issues that
underlie all questions of ethics and
A) personnel complaints
B) compensatory damages
C) governmental support
D) social responsibility
12. Which of the following does NOT fall into the degrees of competition continuum?
A) Perfect competition
B) Monopolistic competition
C) Competitive advantage
D) Oligopoly
13. What is the term given to the groups, individuals, and organizations that are directly
affected by the practices of an organization?
A) Primary agents of interest
B) Social auditors
C) Competitors
D) Organizational stakeholders
14. The Chinese government controls all factors of production, the Chinese government has
which type of economic systems?
A)Capitalism
B) Socialism
C) Market
D)Communism
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