50 POINTS AND BRAINLIEST
Econ U2 Intro to Economics
Multiple Choice
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3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost? *1point

the time lost looking at both items
the net value of the jersey for the collector
the net value of the ball for the collector

4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering? *1 point

the profit of growing peppers, compared to the profit of growing tomatoes

the retail value of peppers at the store, compared to the retail value of tomatoes at the store

the cost of growing peppers, compared to the cost of growing tomatoes

5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost? *1 point

There is no opportunity cost because there is no cost associated with either option. Economics do not apply to this kind of decision.
The difference in value to Kendra of the two options
The net value to Kendra of going to Samuel's house to play games.

6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision? *1 point

$80
$150
$120

9. How does a pure command economy answer the basic question of which goods and services should be produced? *1 point

The producers decide what should be produced.
The government decides what should be produced.
The consumers decide what should be produced.

10. How does a pure market economy answer the basic question of which goods and services should be produced? *1 point

Producers decide what should be produced.
The government decides what should be produced.
The law of supply and demand drives this choice.

11. Which of the following principles of a free enterprise system BEST explains why businesses in an industry cannot maintain an artificially high price? *1 point

producer sovereignty - they can choose to produce what they want
property rights - producers can own or rent the building they manufacture in
open opportunity - other producers can decide to sell it slightly cheaper to attract more customers

12. Which of the following is an example of open opportunity? *1 point

A student learns to make web pages and starts making websites for local small businesses.
A business decides to change its website provider to reduce cost.
A farmer has the right to decide which crops to plant in his field.

13. Which is an example of a private good? *1 point

an internet connection from a local cable company
a personal computer or tablet used to access the internet
positions in a free online game limited to 100 people

14. Which of the following is a positive externality that would result from converting the inner part of a city to a pedestrian only area? *1 point

the increase in commute time for people who work in the area
a decrease in business in the area
the decrease of pollution in the city

Answer: sorry i took long

3. the time lost looking at both items

4. The cost of growing peppers, compared to the cost of growing tomatoes.

5.The net value to Kendra of going to Samuel's house to play games.

6. $150

9. The producers decide what should be produced.

10. Producers decide what should be produced.

11. property rights - producers can own or rent the building they manufacture in

12. A student learns to make web pages and starts making websites for local small businesses.

13. a personal computer or tablet used to access the internet

14. the decrease of pollution in the city

3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?

⇢ opportunity cost refers to the time wasted when we look for one thing and buy another one

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4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering?

⇢Trade off refers to the lost when we perform something resulting in losing a day wage

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5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost?

⇢opportunity cost refers to the time wasted when we look for one thing and buy another one

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6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision?

⇢opportunity cost refers to the time wasted when we look for one thing and buy another one

⇢Most benefit : 2 hours movie cost $20

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9. How does a pure command economy answer the basic question of which goods and services should be produced?

⇢More demand,more production

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10. How does a pure market economy answer the basic question of which goods and services should be produced?

⇢Here , producer being the head , decides what should be produced.

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11. Which of the following principles of a free enterprise system BEST explains why businesses in an industry cannot maintain an artificially high price?

⇢Lower the price,more the sale if both are of same quality

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12. Which of the following is an example of open opportunity?

⇢ It's government plan to encourage manufacturers

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13. Which is an example of a private good?

⇢Private good belongs to an individual and not to a group or an organisation

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14. Which of the following is a positive externality that would result from converting the inner part of a city to a pedestrian only area?

⇢the increase in commute time for people who work in the area would help people to use pathways more often

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If you produce goods manufactured from sheet metal, what subcontractor supplies your raw materials?
-a primary metal manufacturing subcontractor
-a car manufacturer
-a tool-and-die subcontractor
-a mining company

Which report is constructed immediately prior to preparing the financial statements with the purpose of demonstrating that the accounts balance?.

If 2010 is the base year, then the inflation rate in 2015 equals a. [(CPI in 2015 - CPI in 2014) / CPI in 2010] x 100 b. [(CPI in 2015 - CPI in 2010) / CPI in 2010] x 100 c. [(CPI in 2015 - CPI in 2014) / CPI in 2014] x 100 d. [(CPI in 2015 - CPI in 2010) / CPI in 2014] x 100

Jessica wants to set up a manufacturing unit, so she meets with Rachel, a human resource manager at her company. Rachel explains that in order to decide on the human resource needs for the unit, they should conduct a work flow analysis. She suggests they start by defining the outputs of the process. To do this, what should Jessica define?

True or false: A company that achieves differentiation parity at a lower cost has implemented a successful cost-leadership strategy.

An e-commerce manufacturer wants to invest $85000 in making the factory mold for a new product. Each unit will cost $2.10 to make, plus an additional $0.15 in packaging. This good will sell for $30 each but the manufacturer will incur the $5/unit shipping cost.

1. What is the fixed cost?
2. What is the variable cost?
3. What is the contribution margin?
4. What is the break-even point?
5. How many units must be sold to earn $75000 in profit?

Avery works for Proctor and Gamble as a market researcher in the United States. P&G is interested in launching a new line of shampoo in India and has asked her to look into doing research to support this decision. Since Avery is not familiar with the language or the culture, what should she do?

If you were a self-employed freelance writer, what type of retirement account

might you set up?

A. An individual retirement account

B. A 401(k) plan

C. A pension plan

D. A 403(b) plan

SUBMIT

PLEASE HELPPPP

Strawberry sells bicycles. One bicycle sells for $85, and the cost to produce a bicycle is $65. What is Strawberry's return on investment (ROI)?

ROI = (Total Return – Amount Invested)/Amount Invested

= Net Profit/Amount Invested

Remember to multiply the result by 100 to convert to percentage



Hint: Your answer will have one decimal point and make sure to type the % symbol!

Example: 15.3%

Because a brand name is already well established, a firm can spend ______ resources to develop consumer brand awareness when introducing a brand extension.

Gargantua Equipment Corporation registers its trademark as provided by federal law. This registration gives notice that the mark belongs exclusively to Gargantua. This notice is

Enumerate atleast 5 Food Processing tools and their uses​

Could someone help me with my homework?
Question: What is management in business?

Thank you!!

Edna is the payee of a bearer instrument-a promissory note in the amount of $10,000. Flem offers to irrigate Edna's ranch next week in exchange for the note. She agrees and delivers the note to Flem. Flem is

A. not an HDC, because he did not yet give value for the instrument.

B. an HDC, because he promised to perform services at a future date.

C. not an HDC, because he did not acquire the instrument in good faith.

D. an HDC, because the transferor was the original payee on the note.

Categorize each of the following characteristics as being either more representative of a traditional organization or a lean organization.

a. Manufacturing plants tend to be organized with self-contained production cells.
b. Maintain greater quantities of raw materials, work in process, and finished goods inventories.
c. Setup times are longer.
d. High quality is stressed in every aspect of production.
e. Produce in smaller batches.
f. Emphasis is placed on shortening manufacturing cycle times.

On April 1, a company paid the $2,700 premium on a three-year insurance policy with benefits beginning on that date. What amount of insurance expense will be reported on the annual income statement for the first year ended December 31? $2,025.00. $75.00. $2,700.00. $900.00. $675.00.

Who owns mutual savings institutions? the stockbrokers who buy and sell shares the individuals who deposit money in the institution the US government the FDIC

A historian might argue that the trade described in the passage reflected a turning point in world history primarily because the opium trade:.

A farmer has developed a new type of fertilizer. This new fertilizer costs 20
percent more to produce than the old fertilizer but has better results: The
same land now produces 25 percent more crops each year.
Which statement best describes one way the farm will be affected by using
this new fertilizer?
A. The farm's opportunity cost for using fertilizer will increase.
B. The farm's opportunity cost for using fertilizer will decrease.
C. The farm's marginal cost for fertilizer will increase.
D. The farm's marginal cost for fertilizer will decrease.

A bank account object can have a specific attribute called a(n) _____ that can be active, inactive, closed, or frozen.

How did the oil and gas industry improve louisiana’s economy?.

Patrick Smith has $5,000 to invest in a small business venture. His partner has promised to pay him back $8,200 in five years. What is the return that this investment earns

If Daniel's cupcake shop had a
total cost of $12,000 and sold
2,000 cupcakes, what was his
average cost per cupcake?

Your company is setting itself up to distribute software made by another company. What type of document should your company procure from the developing company

The state of Texas recently saw a gasoline price increase of 5%, which brought about a fall in the quantity of gasoline purchased of 1%. The price elasticity of demand is equal to _____, and demand is described as _____.

Sharon is the chief marketing officer for a well-known bank. After looking at the
company's sales data, she recognizes that most of the accounts were held by clients
who lived in the neighboring city. She decides she will boost advertisements in the
neighboring city to increase their number of bank accounts. What did Sharon
determine by looking at her company's sales data?
- Revenue
- Target market
- Pricing
- Value proposition

The all-benefits approach to CVP involves ______. identifying and promoting all the advantages of the product closely following the competition emphasizing how the product is different from the competition focusing on what the customer likes about the product

After the manager and employee work together to set the employee’s objectives, what is the next step of mbo?.

A financial instrument whose value is derived from the value of an underlying asset is called a.

The definition of ______ ______ states: the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.