管理经济学第七版英文教辅 chapter 1.docx
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1、Managerial Economics 7e (Keat)Chapter 1 IntroductionMultiple-Choice Questions1) The best definition of economics isA) how choices are made under conditions of scarcity.B) how money is used.C) how goods and services are produced.D) how businesses maximize profits.Answer: ADiff: 12) Managerial economi
2、cs is best defined as the economic study ofA) how businesses can make the most profits.B) how businesses can decide on the best use of scarce resources.C) how businesses can operate at the lowest costs.D) how businesses can sell the most products.Answer: BDiff: 13) Managerial economics is best defin
3、ed asA) the study of economics by managers.B) the study of the aggregate economic activity.C) the study of how managers make decisions about the use of scarce resources.D) All of the above are good definitions.Answer: CDiff: 14) Scarcity is a condition that exists whenA) there is a fixed supply of r
4、esources relative to the demand for the product.B) there is a large demand for a product.C) resources are not able to meet the entire demand for a product.D) All of the aboveAnswer: CDiff: 15) Which of the statements below best illustrates the use of the market process in determining the allocation
5、of scarce resources?A) Lets make this product because this is what we know how to do best.”B) nWe should consider shifting to products where we can earn even more money.nC) Everyone is opening video stores, why dont we?”D) We cant stop making this product. This product gave our company its start.nAn
6、swer: BDiff: 26) Which of the following is not considered as a factor of production?A) moneyB) machinery and equipmentC) landD) unskilled laborAnswer: ADiff: 17) Select the group that best represents the basic factors of production.A) land, labor, capital, entrepreneurship8) land, labor, money, mana
7、gement skills9) land, natural resources, labor, capitalD) land, labor, capital, technologyAnswer: ADiff: 18) Which of the following is the best example of how the question of nwhat goods and services to produce? is answered by the command process?A) government subsidies for windmill energy productio
8、nB) laws regarding equal opportunity in employmentC) government allowance for the deduction of interest payments on private mortgagesD) government regulations concerning the dumping of hazardous wasteAnswer: ADiff: 29) Which of the following is the best example of nwhat goods and services should be
9、produced?n A) the use of a capital intensive versus a labor intensive process of manufacturing textilesB) the production of SUVs versus the production of sub-compact carsC) the manufacturing of computer workstations in China or in IndiaD) the leasing versus the purchasing of new capital equipmentAns
10、wer: BDiff: 210) Which of the following is the best example of nhow goods and services should be produced?*A) complying with the technical specifications in the production of an aircraftB) the production of jet aircraft for the air force or for a commercial airlineC) the use of additional workers ve
11、rsus the use of machines in the production of goodsD) the production of a new manufacturing facilityAnswer: CDiff: 211) From the standpoint of a soft drink company the question ofn What goods and services should be produced?n is best represented by which of the following decisions?A) whether or not
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