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5 Written questions

5 Matching questions

  1. Christy Haubegger
  2. technology
  3. Milton Hershey
  4. Robert L Johnson
  5. market failure
  1. a founder of Latina Magazine in 1996
  2. b a situation in which the market does not distribute resources efficiently
  3. c an American manufacturer and philanthropist who founded one of the world's largest confectionery companies, the Hershey Chocolate Company
  4. d the process used to produce a good or service
  5. e Founder of BET- A media Company

5 Multiple choice questions

  1. an economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume
  2. a government payment that supports a business or market
  3. a period of macroeconomic expansion followed by a period of contraction
  4. Describes demand that is very sensitive to a change in price
  5. a commitment to the value of work and purposeful activity

5 True/False questions

  1. fixed costa cost that does not change, no matter how much of a good is produced


  2. operating costfixed costs plus variable costs


  3. Howard Shultsa graphic representation of a demand schedule


  4. profit motivefixed costs plus variable costs


  5. inelasticDescribes demand that is very sensitive to a change in price


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