1.
When the price of a product increase, the expected quantity demand…
A
increases
B
decreases
C
remains unchanged
2.
In a small bakery, the maximum possible production of either lotus seed mooncake and sweet bean mooncake is 2000 pieces in one day. Which of the following is the most effective and feasible output?
A
600 lotus seed mooncake a and 750 sweet bean mooncakes
B
3000 lotus seed mooncakes and 1500 sweet bean mooncakes
C
1000 lotus seed mooncakes and 1000 sweet bean mooncakes
3.
Which of the following is the characteristic of household?
A
Hire and use factors of production
B
Produce and sell goods and services
C
Buy and consume goods and services
4.
Which of the following does not belong to the concept of macroeconomics?
A
Economic growth
B
Decisions made by household
C
Unemployment
5.
Which of them is/are types of graphs?
A
Pie chart
B
Time-series graph
C
Both of them
6.
Which is the most common method to collect data in both established companies and new companies?
A
Questionnaire
B
Data-driven
C
Opinion from experts
7.
Which of the following does not belong to indirect cost?
A
salary
B
rent
C
electricity bill
8.
How to make the highest possible revenue?
A
Employ more workers
B
Produce more advertisements to increase exposure of the firm
C
Pioneer of a brand new industry
9.
Which of the following is/are the benefit(s) of building economic models?
