The document discusses microeconomics concepts like production possibilities curves, opportunity cost, and factors of production. It provides sample multiple choice questions that test understanding of these microeconomic concepts, such as how the slope of a production possibilities curve represents the opportunity cost of producing more of one good. It also includes examples of using production possibilities curves to illustrate concepts like inefficient use of resources and the impact of economic growth.
Microeconomics deals with how individuals and societies make choices with limited resources. It is divided into microeconomics and macroeconomics. Microeconomics examines individual units like households and firms, and includes topics like supply and demand. The production possibilities frontier is a model that shows the tradeoffs between two goods based on limited resources. It has an inward sloping curve indicating increasing opportunity costs as more is produced of one good.
This document contains a 12 question microeconomics quiz covering concepts like scarcity, opportunity cost, production possibilities frontiers, and efficiency. Questions ask about definitions of economic terms, identifying opportunity costs of various production choices, and determining points on a production possibilities frontier graph. The quiz concludes with a production possibilities table for cotton and corn in Egypt and questions involving calculating opportunity costs of different production combinations based on the data in the table.
This document contains a microeconomics quiz with multiple choice and true/false questions that assess fundamental microeconomic concepts such as scarcity, demand and supply, equilibrium, opportunity cost, and production possibilities frontiers. It also includes sample exam questions requiring the use of demand/supply diagrams and production possibilities frontier graphs to illustrate economic scenarios and analyze shifts in equilibrium.
The document discusses microeconomics concepts related to supply and demand graphs. It includes multiple choice questions and graphing exercises about:
1) Changes in supply and demand curves and how they impact equilibrium price and quantity.
2) Equations representing supply and demand schedules and calculating equilibrium points.
3) Graphing the impact of various market changes, like a crop failure or new technology, on related markets.
4) Filling in excess demand/supply values from supply and demand schedules and identifying equilibrium.
5) Identifying equilibrium prices and quantities, as well as disequilibrium situations, from supply and demand graphs.
This document discusses production possibilities curves, which show the alternative combinations of goods and services an economy can produce given limited resources. The production possibilities frontier line represents the maximum output attainable and shows the trade-offs between different goods. Points inside the frontier indicate underutilization of resources, while shifts in the curve reflect economic growth or shrinkage. The opportunity cost of producing more of one good is given up production of another good.
1. The production possibility curve (PPC) shows the combinations of two goods an economy can produce with full employment of resources and a given technology.
2. The PPC assumes resources are fully and efficiently used and technology remains constant. Points on the curve indicate maximum potential output combinations while points inside the curve represent underutilization of resources.
3. An outward shift of the PPC occurs when resources increase, allowing more of both goods to be produced. A leftward shift happens when resources decrease, reducing the potential output of both goods.
The document discusses key concepts in microeconomics including:
1) Utility refers to how consumers rank goods and services based on satisfaction. Marginal utility is the additional satisfaction from consuming one more unit of a good. The law of diminishing marginal utility states that utility grows at a slower rate as more is consumed.
2) Consumers maximize utility when the marginal utility per dollar is equal for all goods purchased. Demand curves slope downward because consumers want less of a good at a higher price. Substitution and income effects explain how consumption changes when a good's price increases.
3) Elasticity measures the responsiveness of quantity to price changes. Demand is more inelastic for addictive drugs than casual drugs.
This document provides contact details for Nangati T. Marshal and an overview of a lecture on production possibilities and opportunity costs. It includes:
1) Contact information for Nangati T. Marshal including email and phone number.
2) An introduction to the production possibilities frontier (PPF) as a graph showing the maximum combinations of goods that can be produced with limited resources.
3) Assumptions made in the PPF model including fixed resources, technology, and time period.
Microeconomics deals with how individuals and societies make choices with limited resources. It is divided into microeconomics and macroeconomics. Microeconomics examines individual units like households and firms, and includes topics like supply and demand. The production possibilities frontier is a model that shows the tradeoffs between two goods based on limited resources. It has an inward sloping curve indicating increasing opportunity costs as more is produced of one good.
This document contains a 12 question microeconomics quiz covering concepts like scarcity, opportunity cost, production possibilities frontiers, and efficiency. Questions ask about definitions of economic terms, identifying opportunity costs of various production choices, and determining points on a production possibilities frontier graph. The quiz concludes with a production possibilities table for cotton and corn in Egypt and questions involving calculating opportunity costs of different production combinations based on the data in the table.
This document contains a microeconomics quiz with multiple choice and true/false questions that assess fundamental microeconomic concepts such as scarcity, demand and supply, equilibrium, opportunity cost, and production possibilities frontiers. It also includes sample exam questions requiring the use of demand/supply diagrams and production possibilities frontier graphs to illustrate economic scenarios and analyze shifts in equilibrium.
The document discusses microeconomics concepts related to supply and demand graphs. It includes multiple choice questions and graphing exercises about:
1) Changes in supply and demand curves and how they impact equilibrium price and quantity.
2) Equations representing supply and demand schedules and calculating equilibrium points.
3) Graphing the impact of various market changes, like a crop failure or new technology, on related markets.
4) Filling in excess demand/supply values from supply and demand schedules and identifying equilibrium.
5) Identifying equilibrium prices and quantities, as well as disequilibrium situations, from supply and demand graphs.
This document discusses production possibilities curves, which show the alternative combinations of goods and services an economy can produce given limited resources. The production possibilities frontier line represents the maximum output attainable and shows the trade-offs between different goods. Points inside the frontier indicate underutilization of resources, while shifts in the curve reflect economic growth or shrinkage. The opportunity cost of producing more of one good is given up production of another good.
1. The production possibility curve (PPC) shows the combinations of two goods an economy can produce with full employment of resources and a given technology.
2. The PPC assumes resources are fully and efficiently used and technology remains constant. Points on the curve indicate maximum potential output combinations while points inside the curve represent underutilization of resources.
3. An outward shift of the PPC occurs when resources increase, allowing more of both goods to be produced. A leftward shift happens when resources decrease, reducing the potential output of both goods.
The document discusses key concepts in microeconomics including:
1) Utility refers to how consumers rank goods and services based on satisfaction. Marginal utility is the additional satisfaction from consuming one more unit of a good. The law of diminishing marginal utility states that utility grows at a slower rate as more is consumed.
2) Consumers maximize utility when the marginal utility per dollar is equal for all goods purchased. Demand curves slope downward because consumers want less of a good at a higher price. Substitution and income effects explain how consumption changes when a good's price increases.
3) Elasticity measures the responsiveness of quantity to price changes. Demand is more inelastic for addictive drugs than casual drugs.
This document provides contact details for Nangati T. Marshal and an overview of a lecture on production possibilities and opportunity costs. It includes:
1) Contact information for Nangati T. Marshal including email and phone number.
2) An introduction to the production possibilities frontier (PPF) as a graph showing the maximum combinations of goods that can be produced with limited resources.
3) Assumptions made in the PPF model including fixed resources, technology, and time period.
The document summarizes a production possibilities curve showing the tradeoff between producing pizzas and robots with full employment and productive efficiency. It notes that:
1) As the economy moves along the curve to produce more of one item, it must produce less of the other, with the cost of each additional unit rising.
2) To operate at a point on the curve, the economy must be efficiently allocating its limited resources between the two products.
3) The curve illustrates the law of increasing opportunity costs - the more of one product produced, the greater the costs are in terms of forgone production of the other product.
A production possibilities graph shows the maximum amounts of two goods an economy can produce given limited resources. It demonstrates efficiency by showing production on the frontier curve, and inefficiency within. An economy's possibilities depend on available resources and technology. Underutilization occurs when resources are not fully used, such as during a labor shortage or war, while growth comes from more resources, exports, technology or land.
The document discusses key economic concepts such as wants, goods, services, scarcity, opportunity cost, diminishing marginal utility, and production possibilities frontier. It provides definitions and examples for students to demonstrate their understanding of these terms. Students are asked to create pictowords, flowcharts, and graphs, and describe decisions they have made to illustrate these economic principles.
This document contains 15 multiple choice practice questions from an AP Microeconomics unit on basic economic concepts. The questions cover topics like scarcity, opportunity cost, production possibilities curves, and the circular flow model. They assess understanding of key foundations of microeconomics.
The document discusses key economic concepts including the production possibility frontier (PPF), opportunity cost, comparative advantage, and absolute advantage. It explains that the PPF represents the most efficient allocation of resources and shows the tradeoffs between producing different goods. Opportunity cost is the value of the next best alternative forgone. Countries specialize in producing goods where they have a comparative advantage in order to benefit from trade. Absolute advantage occurs when a country can produce more of both goods than another country.
The document discusses the concept of demand in economics. It defines demand and outlines several demand concepts, including negative demand, latent demand, and derived demand. It also discusses the law of demand and how demand schedules and curves illustrate the inverse relationship between price and quantity demanded. The document then covers determinants of changes in demand, different types of demand functions, and how shifts in demand curves impact equilibrium price.
The Production Possibility Curve (PPC) shows the combinations of two goods an economy can produce with its limited resources. It illustrates the core economic problem of scarcity and choice. A PPC demonstrates that an economy must choose between different goods - it can produce more of one good only by reducing production of the other as resources are reallocated between uses. The opportunity cost of choosing one combination over another is the quantity of the forgone good.
The document discusses production possibilities frontiers and opportunity costs. It explains how fixed resources can be allocated between two production options, like wheat and cotton, with all possible production combinations falling along the frontier curve. As resources are reallocated between the options, the opportunity cost may remain constant if the goods are perfect substitutes, or increase if they are not perfect substitutes.
1. The document discusses macroeconomic equilibrium concepts including aggregate expenditure, real GDP, inflation, GDP, investment multiplier, and inflationary and recessionary gaps.
2. It explains the investment multiplier formula and provides an example of calculating the multiplier effect.
3. Several macroeconomic theories are mentioned including Keynesian, Monetarist and New Classical approaches in the context of analyzing inflationary and recessionary gaps.
This document discusses the principles of comparative advantage and absolute advantage in international trade. It explains that comparative advantage refers to a country's ability to produce a good at a lower opportunity cost than other countries, even if it is not the most efficient overall producer. The document provides examples to illustrate comparative advantage between two countries in producing cotton and wheat. It shows that both countries can benefit from specializing in the good they have a comparative advantage in and trading, resulting in overall surplus gains. Some assumptions and limitations of the comparative advantage model are also outlined.
The document discusses key economic concepts including:
1) Economics is the study of how society allocates scarce resources to meet its unlimited wants. Scarcity means human desires exceed available resources.
2) The fundamental economic problem is scarcity of resources relative to human wants. This means societies must choose how to use limited resources to fulfill goals.
3) The production possibilities curve illustrates scarcity and opportunity costs - increasing one good requires reducing another due to finite resources. It curves outward to show greater sacrifice is needed for additional units of a good.
This document appears to be instructions for an economics entrance exam in India. It provides details about the exam such as the date, time limit, number of questions, and scoring information. It instructs students to write their hall ticket number on the paper and answer sheet. It indicates there are two sections, with Section A having 25 questions and Section B having 75 questions. Use of a non-programmable calculator is allowed.
This document appears to be a sample midterm exam for a principles of macroeconomics course. It contains 20 multiple choice questions testing concepts like cost-benefit analysis, supply and demand, and macroeconomic indicators. It also includes short answer questions defining terms like substitutes/complements and asking students to apply concepts like diminishing returns. The exam instructions note it is closed book and calculators are allowed.
This document contains 6 practice questions about production possibility frontiers (PPF). It covers key concepts such as opportunity cost, shifts in the PPF curve, and how events like technological progress, economic growth, and resource allocation affect the PPF. For each question, it asks the reader to define terms, draw and analyze PPF diagrams, and discuss implications for efficiency and economic performance.
This document provides a syllabus and study material for the Economics class of Class XII in 2014-15. It outlines the course content, which is divided into two parts - Introductory Microeconomics and Introductory Macroeconomics. The Microeconomics section covers topics such as consumer behavior, producer behavior, market structures, and the introduction lesson. The introduction lesson defines key economic concepts such as scarcity, choice, opportunity cost and presents the production possibility curve. It also describes the three basic economic problems of what to produce, how to produce and for whom to produce. The document provides sample questions for students and a test paper with questions from the introduction lesson.
Multiple Choice Questions. Choose the one alternative that best AlyciaGold776
Multiple Choice Questions. Choose the one alternative that best answers the question. 2 points each.
1)
Successful supply chain management requires which of the following decision phases?
1)
_______
A)
Supply chain strategy/design
B)
Supply chain operation
C)
Supply chain planning
D)
all of the above
E)
A and B only
2)
Supply chain surplus involves what two parts?
2)
_______
A)
Reliable transportation and supply chain cost
B)
Manufacturing cost and selling price
C)
Customer value and high quality products
D)
Customer value and supply chain cost
3)
Successful supply chain management requires many decisions relating to the flow of information, product, and funds. These decisions fall into three categories or phases. Which of the following is NOT one of these categories?
3)
_______
A)
Supply Chain Strategy and Design
B)
Supply Chain Operation
C)
Supply Chain Alliances
D)
Supply Chain Planning
4)
Customer arrival refers to
4)
_______
A)
the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer.
B)
the process where product is prepared and sent to the customer.
C)
the process where the customer receives the product and takes ownership.
D)
the point in time when the customer has access to choices and makes a decision regarding a purchase.
E)
none of the above
5)
Which of the following is
not
a process in the customer order cycle?
5)
_______
A)
Customer order fulfillment
B)
Customer arrival
C)
Customer order receiving
D)
Customer order entry
E)
All are processes in the customer order cycle.
6)
Supply chain responsiveness includes the ability to do which of the following?
6)
_______
A)
Handle supply uncertainty
B)
Match supply chain responsiveness with the implied uncertainty of demand
C)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
D)
Understand customers and supply chain uncertainty
E)
none of the above
7)
The key weakness of the ________ view is that different functions within a firm may have conflicting objectives.
7)
_______
A)
Intrafunctional scope
B)
Intercompany scope
C)
Intraoperation scope
D)
Interfunctional scope
8)
Supply chain responsiveness includes the ability to do which of the following?
8)
_______
A)
Meet short lead times
B)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
C)
Match supply chain responsiven ...
ASCM 631 – Integrative Supply Chain Management – Midterm Examination
Multiple Choice Questions. Choose the one alternative that best answers the question. 2 points each.
1)
Successful supply chain management requires which of the following decision phases?
1)
_______
A)
Supply chain strategy/design
B)
Supply chain operation
C)
Supply chain planning
D)
all of the above
E)
A and B only
2)
Supply chain surplus involves what two parts?
2)
_______
A)
Reliable transportation and supply chain cost
B)
Manufacturing cost and selling price
C)
Customer value and high quality products
D)
Customer value and supply chain cost
3)
Successful supply chain management requires many decisions relating to the flow of information, product, and funds. These decisions fall into three categories or phases. Which of the following is NOT one of these categories?
3)
_______
A)
Supply Chain Strategy and Design
B)
Supply Chain Operation
C)
Supply Chain Alliances
D)
Supply Chain Planning
4)
Customer arrival refers to
4)
_______
A)
the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer.
B)
the process where product is prepared and sent to the customer.
C)
the process where the customer receives the product and takes ownership.
D)
the point in time when the customer has access to choices and makes a decision regarding a purchase.
E)
none of the above
5)
Which of the following is not a process in the customer order cycle?
5)
_______
A)
Customer order fulfillment
B)
Customer arrival
C)
Customer order receiving
D)
Customer order entry
E)
All are processes in the customer order cycle.
6)
Supply chain responsiveness includes the ability to do which of the following?
6)
_______
A)
Handle supply uncertainty
B)
Match supply chain responsiveness with the implied uncertainty of demand
C)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
D)
Understand customers and supply chain uncertainty
E)
none of the above
7)
The key weakness of the ________ view is that different functions within a firm may have conflicting objectives.
7)
_______
A)
Intrafunctional scope
B)
Intercompany scope
C)
Intraoperation scope
D)
Interfunctional scope
8)
Supply chain responsiveness includes the ability to do which of the following?
8)
_______
A)
Meet short lead times
B)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
C)
Match supply chain responsiveness with the implied uncertainty of demand
D)
Understand customers and supply chain
E)
all of the above
9)
A supply chain strategy involves decisions regarding all of the following except
9)
_______
A)
operating facilities.
B)
transportation.
C)
inventory.
D)
information flows.
E)
new product development.
10)
Pricing directly affects revenues but.
This document provides a sample economics final exam with 30 multiple choice questions covering topics in microeconomics and macroeconomics. The questions assess understanding of concepts like elasticity, costs of production, market structures, international trade, and more. Taking this exam would help evaluate a student's mastery of core economic principles and applications.
Bus 475 final exam 100 questions with answers 4th set answers are hererenat88
click on the link, you will find what you were looking for:homeworkmye.com
Customer support is very important to us. Please use our online chat system in case you have any questions. Also, you can email them to us at homeworkmye@gmail.com. We will do our best to answer you!
An economist studying the relationship between money supply, interest rates, and inflation rate is engaged in macroeconomic research, which examines an economy's overall performance rather than individual choices. A basic difference between microeconomics and macroeconomics is that microeconomics examines individual choices while macroeconomics considers overall economic performance. After years of slow growth, rising global demand for oil was met by increased non-OPEC supplies, and OPEC was unable to restrain output to lift prices, reflecting a rightward shift of the demand curve for oil.
The document summarizes a production possibilities curve showing the tradeoff between producing pizzas and robots with full employment and productive efficiency. It notes that:
1) As the economy moves along the curve to produce more of one item, it must produce less of the other, with the cost of each additional unit rising.
2) To operate at a point on the curve, the economy must be efficiently allocating its limited resources between the two products.
3) The curve illustrates the law of increasing opportunity costs - the more of one product produced, the greater the costs are in terms of forgone production of the other product.
A production possibilities graph shows the maximum amounts of two goods an economy can produce given limited resources. It demonstrates efficiency by showing production on the frontier curve, and inefficiency within. An economy's possibilities depend on available resources and technology. Underutilization occurs when resources are not fully used, such as during a labor shortage or war, while growth comes from more resources, exports, technology or land.
The document discusses key economic concepts such as wants, goods, services, scarcity, opportunity cost, diminishing marginal utility, and production possibilities frontier. It provides definitions and examples for students to demonstrate their understanding of these terms. Students are asked to create pictowords, flowcharts, and graphs, and describe decisions they have made to illustrate these economic principles.
This document contains 15 multiple choice practice questions from an AP Microeconomics unit on basic economic concepts. The questions cover topics like scarcity, opportunity cost, production possibilities curves, and the circular flow model. They assess understanding of key foundations of microeconomics.
The document discusses key economic concepts including the production possibility frontier (PPF), opportunity cost, comparative advantage, and absolute advantage. It explains that the PPF represents the most efficient allocation of resources and shows the tradeoffs between producing different goods. Opportunity cost is the value of the next best alternative forgone. Countries specialize in producing goods where they have a comparative advantage in order to benefit from trade. Absolute advantage occurs when a country can produce more of both goods than another country.
The document discusses the concept of demand in economics. It defines demand and outlines several demand concepts, including negative demand, latent demand, and derived demand. It also discusses the law of demand and how demand schedules and curves illustrate the inverse relationship between price and quantity demanded. The document then covers determinants of changes in demand, different types of demand functions, and how shifts in demand curves impact equilibrium price.
The Production Possibility Curve (PPC) shows the combinations of two goods an economy can produce with its limited resources. It illustrates the core economic problem of scarcity and choice. A PPC demonstrates that an economy must choose between different goods - it can produce more of one good only by reducing production of the other as resources are reallocated between uses. The opportunity cost of choosing one combination over another is the quantity of the forgone good.
The document discusses production possibilities frontiers and opportunity costs. It explains how fixed resources can be allocated between two production options, like wheat and cotton, with all possible production combinations falling along the frontier curve. As resources are reallocated between the options, the opportunity cost may remain constant if the goods are perfect substitutes, or increase if they are not perfect substitutes.
1. The document discusses macroeconomic equilibrium concepts including aggregate expenditure, real GDP, inflation, GDP, investment multiplier, and inflationary and recessionary gaps.
2. It explains the investment multiplier formula and provides an example of calculating the multiplier effect.
3. Several macroeconomic theories are mentioned including Keynesian, Monetarist and New Classical approaches in the context of analyzing inflationary and recessionary gaps.
This document discusses the principles of comparative advantage and absolute advantage in international trade. It explains that comparative advantage refers to a country's ability to produce a good at a lower opportunity cost than other countries, even if it is not the most efficient overall producer. The document provides examples to illustrate comparative advantage between two countries in producing cotton and wheat. It shows that both countries can benefit from specializing in the good they have a comparative advantage in and trading, resulting in overall surplus gains. Some assumptions and limitations of the comparative advantage model are also outlined.
The document discusses key economic concepts including:
1) Economics is the study of how society allocates scarce resources to meet its unlimited wants. Scarcity means human desires exceed available resources.
2) The fundamental economic problem is scarcity of resources relative to human wants. This means societies must choose how to use limited resources to fulfill goals.
3) The production possibilities curve illustrates scarcity and opportunity costs - increasing one good requires reducing another due to finite resources. It curves outward to show greater sacrifice is needed for additional units of a good.
This document appears to be instructions for an economics entrance exam in India. It provides details about the exam such as the date, time limit, number of questions, and scoring information. It instructs students to write their hall ticket number on the paper and answer sheet. It indicates there are two sections, with Section A having 25 questions and Section B having 75 questions. Use of a non-programmable calculator is allowed.
This document appears to be a sample midterm exam for a principles of macroeconomics course. It contains 20 multiple choice questions testing concepts like cost-benefit analysis, supply and demand, and macroeconomic indicators. It also includes short answer questions defining terms like substitutes/complements and asking students to apply concepts like diminishing returns. The exam instructions note it is closed book and calculators are allowed.
This document contains 6 practice questions about production possibility frontiers (PPF). It covers key concepts such as opportunity cost, shifts in the PPF curve, and how events like technological progress, economic growth, and resource allocation affect the PPF. For each question, it asks the reader to define terms, draw and analyze PPF diagrams, and discuss implications for efficiency and economic performance.
This document provides a syllabus and study material for the Economics class of Class XII in 2014-15. It outlines the course content, which is divided into two parts - Introductory Microeconomics and Introductory Macroeconomics. The Microeconomics section covers topics such as consumer behavior, producer behavior, market structures, and the introduction lesson. The introduction lesson defines key economic concepts such as scarcity, choice, opportunity cost and presents the production possibility curve. It also describes the three basic economic problems of what to produce, how to produce and for whom to produce. The document provides sample questions for students and a test paper with questions from the introduction lesson.
Multiple Choice Questions. Choose the one alternative that best AlyciaGold776
Multiple Choice Questions. Choose the one alternative that best answers the question. 2 points each.
1)
Successful supply chain management requires which of the following decision phases?
1)
_______
A)
Supply chain strategy/design
B)
Supply chain operation
C)
Supply chain planning
D)
all of the above
E)
A and B only
2)
Supply chain surplus involves what two parts?
2)
_______
A)
Reliable transportation and supply chain cost
B)
Manufacturing cost and selling price
C)
Customer value and high quality products
D)
Customer value and supply chain cost
3)
Successful supply chain management requires many decisions relating to the flow of information, product, and funds. These decisions fall into three categories or phases. Which of the following is NOT one of these categories?
3)
_______
A)
Supply Chain Strategy and Design
B)
Supply Chain Operation
C)
Supply Chain Alliances
D)
Supply Chain Planning
4)
Customer arrival refers to
4)
_______
A)
the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer.
B)
the process where product is prepared and sent to the customer.
C)
the process where the customer receives the product and takes ownership.
D)
the point in time when the customer has access to choices and makes a decision regarding a purchase.
E)
none of the above
5)
Which of the following is
not
a process in the customer order cycle?
5)
_______
A)
Customer order fulfillment
B)
Customer arrival
C)
Customer order receiving
D)
Customer order entry
E)
All are processes in the customer order cycle.
6)
Supply chain responsiveness includes the ability to do which of the following?
6)
_______
A)
Handle supply uncertainty
B)
Match supply chain responsiveness with the implied uncertainty of demand
C)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
D)
Understand customers and supply chain uncertainty
E)
none of the above
7)
The key weakness of the ________ view is that different functions within a firm may have conflicting objectives.
7)
_______
A)
Intrafunctional scope
B)
Intercompany scope
C)
Intraoperation scope
D)
Interfunctional scope
8)
Supply chain responsiveness includes the ability to do which of the following?
8)
_______
A)
Meet short lead times
B)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
C)
Match supply chain responsiven ...
ASCM 631 – Integrative Supply Chain Management – Midterm Examination
Multiple Choice Questions. Choose the one alternative that best answers the question. 2 points each.
1)
Successful supply chain management requires which of the following decision phases?
1)
_______
A)
Supply chain strategy/design
B)
Supply chain operation
C)
Supply chain planning
D)
all of the above
E)
A and B only
2)
Supply chain surplus involves what two parts?
2)
_______
A)
Reliable transportation and supply chain cost
B)
Manufacturing cost and selling price
C)
Customer value and high quality products
D)
Customer value and supply chain cost
3)
Successful supply chain management requires many decisions relating to the flow of information, product, and funds. These decisions fall into three categories or phases. Which of the following is NOT one of these categories?
3)
_______
A)
Supply Chain Strategy and Design
B)
Supply Chain Operation
C)
Supply Chain Alliances
D)
Supply Chain Planning
4)
Customer arrival refers to
4)
_______
A)
the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer.
B)
the process where product is prepared and sent to the customer.
C)
the process where the customer receives the product and takes ownership.
D)
the point in time when the customer has access to choices and makes a decision regarding a purchase.
E)
none of the above
5)
Which of the following is not a process in the customer order cycle?
5)
_______
A)
Customer order fulfillment
B)
Customer arrival
C)
Customer order receiving
D)
Customer order entry
E)
All are processes in the customer order cycle.
6)
Supply chain responsiveness includes the ability to do which of the following?
6)
_______
A)
Handle supply uncertainty
B)
Match supply chain responsiveness with the implied uncertainty of demand
C)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
D)
Understand customers and supply chain uncertainty
E)
none of the above
7)
The key weakness of the ________ view is that different functions within a firm may have conflicting objectives.
7)
_______
A)
Intrafunctional scope
B)
Intercompany scope
C)
Intraoperation scope
D)
Interfunctional scope
8)
Supply chain responsiveness includes the ability to do which of the following?
8)
_______
A)
Meet short lead times
B)
Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness
C)
Match supply chain responsiveness with the implied uncertainty of demand
D)
Understand customers and supply chain
E)
all of the above
9)
A supply chain strategy involves decisions regarding all of the following except
9)
_______
A)
operating facilities.
B)
transportation.
C)
inventory.
D)
information flows.
E)
new product development.
10)
Pricing directly affects revenues but.
This document provides a sample economics final exam with 30 multiple choice questions covering topics in microeconomics and macroeconomics. The questions assess understanding of concepts like elasticity, costs of production, market structures, international trade, and more. Taking this exam would help evaluate a student's mastery of core economic principles and applications.
Bus 475 final exam 100 questions with answers 4th set answers are hererenat88
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An economist studying the relationship between money supply, interest rates, and inflation rate is engaged in macroeconomic research, which examines an economy's overall performance rather than individual choices. A basic difference between microeconomics and macroeconomics is that microeconomics examines individual choices while macroeconomics considers overall economic performance. After years of slow growth, rising global demand for oil was met by increased non-OPEC supplies, and OPEC was unable to restrain output to lift prices, reflecting a rightward shift of the demand curve for oil.
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June 20, 2024
CRYPTOCURRENCY: REVOLUTIONIZING THE FINANCIAL LANDSCAPE AND SHAPING THE FUTURE
Cryptocurrency: Revolutionizing the Financial Landscape and Shaping the Future
Cryptocurrency, a digital or virtual form of currency that uses cryptography for security, has revolutionized the financial landscape. Originating with Bitcoin's inception in 2009 by the pseudonymous Satoshi Nakamoto, cryptocurrencies have grown from niche curiosities to mainstream financial instruments, reshaping how we think about money, transactions, and the global economy.
#### The Genesis of Cryptocurrency
The birth of Bitcoin marked the beginning of the cryptocurrency era. Unlike traditional currencies issued by governments and controlled by central banks, Bitcoin operates on a decentralized network using blockchain technology. This technology ensures transparency, security, and immutability of transactions, fundamentally challenging the centralized financial systems that have dominated for centuries.
Bitcoin was conceived as a peer-to-peer electronic cash system, aimed at providing an alternative to the traditional banking system plagued by inefficiencies, high fees, and lack of transparency. The underlying blockchain technology, a distributed ledger maintained by a network of nodes, ensures that every transaction is recorded and cannot be altered, thus providing a secure and transparent financial system.
#### The Proliferation of Altcoins
Following Bitcoin's success, thousands of alternative cryptocurrencies, or altcoins, have emerged. Each of these altcoins aims to improve upon Bitcoin or serve specific purposes within the digital economy. Notable examples include Ethereum, which introduced smart contracts – self-executing contracts with the terms of the agreement
PFMS, India's Public Financial Management System, revolutionizes fund tracking and distribution, ensuring transparency and efficiency. It enables real-time monitoring, direct benefit transfers, and comprehensive reporting, significantly improving financial management and reducing fraud across government schemes.
Resume
On June 11-16, several important international events were organized and they are expected
to contribute to Ukraine's resilience and victory: URC2024, the G7 meeting, and the Global
Peace Summit.
According to the IER, real GDP growth slowed slightly to 3.5% yoy in May compared to 4.2%
yoy in April due to significant damage caused by russian attacks on electricity generation.
Restrictions on electricity supply to industry and the population continue: efficient consumption
and the installation of decentralized power generation capacities are a priority.
The Ukrainian Sea Corridor allows an increase in the exports of ores and metallurgical products.
Foreign aid was the lowest in May. However, already in June Ukraine should receive about
USD 4 bn in loans.
In May, as in the previous three months, consumer inflation was slightly above 3% (3.3% yoy).
In June, the NBU again reduced the discount rate – from 13.5% to 13% per annum.
The hryvnia exchange rate has surpassed UAH 40 per dollar due to the growing demand for
cash currency.
The IER is preparing the pub
Heather Elizabeth HamoodHeather Elizabeth Hamoodheatherhamood
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2. 1)MCQ
1) In every economic system, choices must be made because resources
are ________ and our wants are________.
A) Unlimited; limited
B) Limited; unlimited
C) Unlimited; unlimited
D) Limited; limited
2)Inputs, or factors of production, include
a. labor.
b. machinery.
c. natural resources.
d. all of the above.
3. 3) In broad terms the difference between microeconomics and
macroeconomics is that:
A) They use different sets of tools and ideas.
B) Microeconomics studies decisions of individual people and firms and
macroeconomics studies the entire national economy.
C) Macroeconomics studies the effects of government regulation and taxes on the price
of individual goods and services whereas microeconomics does not.
D) Microeconomics studies the effects of government taxes on the national
unemployment rate.
4) In part, microeconomics is concerned with
A) How a business firm decides upon the amount it produces and the price it sets.
B) Changes in the economy's total output of goods and services over long periods of
time.
C) Factors that explain changes in the unemployment rate over time.
D) The Federal Reserves' policy decisions.
4. 5) Which of the following issues is related to microeconomics?
a) the impact of oil prices on car production
b) the impact of money on inflation
c) the impact of technology on economic growth
d) the impact of the deficit on saving
6) The production possibilities curve illustrates the basic principle that
a. an economy's capacity to produce increases in proportion to its population.
b. if all resources of an economy are in use, more of one good can be produced
only if less of another is produced.
c. an economy will automatically seek that output at which all of its resources
are employed.
d. no opportunity cost exists in production.
5. 7) For a given production possibilities frontier, which points are
attainable?
a. points inside the frontier
b. points outside the frontier
c. points on or outside the frontier
d. points on the frontier only
e. points on or inside the frontier
8) A production possibilities curve always slopes downward to the right
because resources
a. are not scarce.
b. have no opportunity cost.
c. are freely available.
d. are limited.
e. are not related to outputs.
6. 9) How are the slope of a production possibilities frontier and the
opportunity cost of the goods related?
a. The slope is a graphical representation of the cost of expanding production of both
goods.
b. The slope is a graphical measure of the growth rate of the economy.
c. The slope is a graphical representation of the cost of decreasing unemployment.
d. The slope is a graphical representation of the rate of trade-off between the goods.
e. The slope is a graphical representation of the cost of economic growth in the
economy.
10) Which of the following is likely to affect the position and shape of
society's production possibilities frontier?
a. volume of physical resources
b. level of labor skills
c. level of technology
d. amount of factories on hand
e. All of the above are correct.
7. 11) The notion of opportunity cost can be represented graphically by
the
a. area inside the production possibilities frontier.
b. slope of the production possibilities frontier.
c. vertical distance from the horizontal axis to the production possibilities
frontier.
d. horizontal distance from the vertical axis to the production possibilities
frontier.
e. sum of the horizontal and vertical distances to the production possibilities
frontier.
8. Show graphically
1. a PPF for an economy, with the axes labeled ‘consumer goods’ and
producer goods’. Indicate the region that is attainable and the
region that is not. Explain the shape of the curve-what assumptions
did you make in drawing it?
2. A PPF assuming increasing opportunity cost.
• Plot a point (m) to show inefficient use of resources.
• Plot a point (n) to show scarcity.
• What do the points on the PPF represent? (Mid-term 2005).
3. The effect of economic growth on the PPF. (2013)
9. Answers
1) Concave to the origin because of increasing opportunity cost
Assumtions are:
• Resources are fully and efficiently used
• Technology is constant
• Using given resources only 2 goods can be produced
• Fixed/limited Resources
• Given time period
2) Plot a point inside the curve
Plot a point outside the curve
Effeciency
3) Shift the curve to the right
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