Which is determined by subtracting costs from revenue?
question 1 options:
wages
profits
debt
overhead
question 2 (1 point)
which of the following best states the purpose of using a production possibilities frontier graph?
question 2 options:
pursuing the profit motive
setting up efficient production
balancing economic goals
maximizing revenue
question 3 (1 point)
which of the following best explains what the profit motive pushes producers to do?
question 3 options:
minimize costs and maximize revenue
balance monetary and non-monetary benefits
achieve the maximum revenue
produce as much as possible
question 4 (1 point)
which of the following best states the main difference between a monopoly and an oligopoly?
question 4 options:
oligopolies involve more than one company while monopolies involve only one.
both monopolies and oligopolies involve a very low level of competition.
monopolies have a slightly lower level of market concentration than oligopolies.
neither a monopoly nor an oligopoly presents significant barriers to entering the industry.
question 5 (1 point)
which type of market structure is most closely associated with the automobile industry?
question 5 options:
pure competition
oligopoly
monopolistic competition
monopoly
question 6 (1 point)
which characteristic or motivation is not strongly associated with entrepreneurs?
question 6 options:
working for oneself
high risk aversion
innovation
profit
question 7 (1 point)
advertising is the main source of revenue for which of the following industries?
question 7 options:
e-commerce
airlines
retail sales
media
question 8 (1 point)
media companies make all of their revenue using which of the following methods?
question 8 options:
selling ads and subscriptions
recycling old programming
making capital investments
buying low and selling high
question 9 (1 point)
which of the following statements best explains the purpose of advertising?
question 9 options:
advertising is about predicting what consumers will want and how much they will pay.
advertising is about determining how much revenues will exceed costs.
advertising is about buying the attention of an audience of potential consumers.
advertising is about making sure that consumers get accurate product information.
question 10 (1 point)
which of the following best states one effect of advertising?
question 10 options:
market research becomes more accurate.
stockholders have a high level of utility.
media revenues exceed costs.
consumer behavior is influenced.