FLVS Economics Module Three Exam – Flashcards
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The most common form of non-price competition is
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The most common form of non-price competition is specialization
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Which investment produces a $40 daily profit for a game shop earning $2 profit from every game sold?
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Vehicle with $120 daily operating cost delivering 80 games per day
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An entrepreneur is best defined as a person who
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takes financial risk to try new business ideas.
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The level of competition least beneficial to consumers is
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monopoly
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Why do monopolies and oligopolies benefit producers over consumers?
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Few producers can generally control prices.
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Your friend likes to direct all the activities of his business. It would be best for him to create a
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sole proprietorship
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Mad Hatter Publishing specializes in genre fiction for young adults. A popular mystery author has just completed the final book in a trilogy. Currently, production at Mad Hatter Publishing is at point R. To which point or points is production likely to shift?
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Q or R
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Adalet runs a newsstand in a busy office complex. Which option would best help her business to grow?
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Buy a new cash register with credit card capability
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A university has just hired additional faculty and staff. Who of the following is most likely to earn the highest pay?
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Chemistry professor with a doctoral degree
