Question 1: _____ help to organize a field of study, identify key concepts, understand patterns and trends, and clarify research assumptions.   A Ideas B Philosophies C Theories

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Question 1:

_____ help to organize a field of study, identify key concepts, understand patterns and trends, and clarify research assumptions.

 
A

Ideas

B

Philosophies

C

Theories

Question 2:

What are the key theoretical traditions? Select all that apply;

 
A

Theoretical/Classical

B

Applied

C

Modern

D

Critical

E

Abstract

Question 3:

In most developed countries, media markets are dominated by which two types of market structures?

 
A

Perfect competition

B

Monopolistic competition

C

Oligopoly

D

Monopoly

Question 4:

According to Albarran, the whole notion of defining a market structure has become _____ complicated owing to _____ consolidation across the media industries and technological convergence throughout the media economy.

 
A

Increasingly, Slow

B

Increasingly, Rapid

C

Decreasingly, Slow

D

Decreasingly, Rapid

Question 5:

We must draw on an existing body of knowledge in order to develop new theoretical approaches to studying the many complexities of the new media economy.

 
A

True

B

False

Question 6:

_____ theory has been applied to media industries by looking at how media companies compete for advertisers and audiences (analogous to scarce resources) in order to gain competitive advantage over one another.

 
A

Structure

B

Capital

C

Niche

Question 7:

According to Doctrow, the copyright wars date back _____ hundred years.

 
A

Three

B

Five

C

Seven

Question 8:

What are the four primary activities Doctrow refers to when talking about copyright? Select all that apply.

 
A

Making creator works

B

Distributing and selling creative works

C

Enjoying creative works

D

Critiquing creative works

Question 9:

Doctrow uses the following terms to describe;

People who make creative works

 
A

Audiences

B

Intermediaries

C

Creators

D

Investors

Question 10:

Doctrow uses the following terms to describe;

Someone who puts capital into production and refinement

 
A

Audiences

B

Investors

C

Intermediaries

D

Creators

Question 11:

Doctrow uses the following terms to describe;

Entities that handle the work between creation, investment and delivery

 
A

Intermediaries

B

Creators

C

Investors

D

Audiences

Question 12:

Doctrow uses the following terms to describe;

The people a work ends up with

 
A

Audiences

B

Intermediaries

C

Creators

D

Investors

Question 13:

According to Doctrow, the following things are not a part of a successful strategy to make money: select all that apply

 
A

Complaning about piracy

B

Calling your customers thieves

C

Treating your customers like theives

D

Complaining about the universe's unfairness

E

All of the above

Question 14:

When the work artists put into their craft exceeds any reasonable expectation of profit or even a break-even return creates a _____.

 
A

Demand market

B

Supply market

C

Irrational market

D

Equilibrium market

Question 15:

The distinction between microeconomics and macroeconomics involves whether the focus of study involves small, well-defined groups and individual consumer, firms and sectors or large groups and broad economic aggregates.

 
A

True

B

False

Question 16:

Within the social sciences, theories focus on: select all that apply.

 
A

Human behavior

B

Society

C

Marketing strategies

D

Network configurations

Question 17:

For economists, human behaviors influence the choices people make to fulfill their needs, wants or desires.

 
A

True

B

False

Question 18:

Economic theory attempts to predict the outcomes and impacts of a behavior with an assumed set of conditions.

 
A

True

B

False

Question 19:

There are several stages within the life cycle of a theory. Though not all stages are used for every theory, the combination of stages is valuable to understand when extending a theory’s usefulness by adjusting or building upon it. These stages are: select all that apply.

 
A

Informed theory

B

Applied theory

C

Tested/Observed theory

D

Building/Creating theory

E

All of the above

Question 20:

Most cultures recognize and support an economic structure that: select all that apply

 
A

Provides benefits

B

Assists creativity

C

Promotes growth

D

Empowers socio-economic stability

Question 21:

Market, command, and mixed are all forms of

 
A

Market theories

B

Basic economic systems

C

Political systems

D

Social Theories

Question 22:

Firms are created and exist once they enter into the market as a _____ of a good or service.

 
A

consumer

B

provider

C

regulator

Question 23:

Behavior, structure, relationship to the market and internal transactions outside of the market are all important pillars of

 
A

Economic theory

B

Economic systems

C

Theory of the firm

D

Market definition

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