Tiêu đề Eng for BM UNIT PRACTICE QUESTIONS.pdf ✅

UNIT 1 1. **Decision Makers in the Economy** - A) Households - B) Business firms - C) Governments - D) All of the above 2. **Primary Goal of Economic Decision Makers** - A) Utility maximization - B) Profit maximization - C) Welfare maximization - D) All of the above 3. **Scarcity Problem** - A) Unlimited resources - B) Limited income - C) Unlimited wants - D) B and C 4. **Coordination Mechanisms** - A) Command mechanism - B) Market mechanism - C) Both A and B - D) None of the above 5. **Economic Models** - A) Simplified representation of the real world - B) Complex and detailed representation - C) Only used by economists - D) A and C 6. **Response to Price Changes** - A) Buy more when prices are higher - B) Buy less when prices are lower - C) Buy less when prices are higher - D) No change in buying habits 7. **Factors Influencing Buyer Reaction** - A) Price of the item - B) Income of the buyer - C) Price of alternatives - D) All of the above 8. **Mixed Economy** - A) Relies only on command mechanism - B) Relies only on market mechanism - C) A combination of both mechanisms - D) None of the above Ms ThuVan.Bui M.A. FLD - UFA ENGLISH FOR BUSINESS MANAGEMENT UNIT PRACTICE QUESTIONS
9. **Purpose of Economic Models** - A) To complicate economic theories - B) To show how people react to economic changes - C) To predict exact future prices - D) To entertain economists 10. **Basic Goals Explaining Economic Activity** - A) Utility maximization - B) Profit maximization - C) Welfare maximization - D) All of the above 1. **Economic Decision Makers** Which of the following is not an economic decision maker? A) Households B) Business firms C) Governments D) International corporations 2. **Coordination Mechanisms** What is a coordination mechanism in the economy? A) A method to increase income B) A system to organize economic activity C) A tool to measure utility D) A process to create public goods 3. **Economic Models** What is an economic model? A) A complex representation of the world B) A simplified representation of the real world C) A detailed financial plan D) An advanced mathematical equation 4. **Consumer Response** According to the model, how do consumers generally respond to higher prices? A) They purchase more B) They purchase less C) They demand higher quality D) They switch to alternatives 5. **Factors Influencing Buyers** Which factor is not considered basic for determining buyer reaction to price changes? A) The price of the item B) The income of the average buyer Ms ThuVan.Bui M.A. FLD - UFA
C) The price of alternatives D) The color of the item 6. **Market Mechanism** Which economy mainly relies on the market mechanism? A) U.S economy B) Command economy C) Mixed economy D) Traditional economy 7. **Types of Coordination Mechanisms** How many types of coordination mechanisms are mentioned? A) One B) Two C) Three D) Four 8. **Goals of Economic Activity** What is not a basic goal of economic activity? A) Utility maximization B) Profit maximization C) Welfare maximization D) Resource depletion 9. **Scarcity Problem** What central problem is mentioned that affects all economic decisions? A) Inflation B) Scarcity C) Unemployment D) Monopoly 10. **Mixed Economy** What characterizes a mixed economy? A) Sole reliance on market mechanism B) Government modification of resource allocation C) Absence of private firms D) Lack of government intervention Ms ThuVan.Bui M.A. FLD - UFA
1. Business firms must determine what, how, and for whom to: A. Purchase more of less expensive items B. Purchase less of more expensive items C. Make goods or services D. Maximize their own utility 2. Individual households try to: A. Purchase more of less expensive items B. Purchase less of more expensive items C. Maximize their own utility D. Produce goods or services 3. No economic model records every detail and relationship: A. That exists about a problem to be studied B. In the making of goods and services C. Before producing goods or services D. To maximize their own utility 4. People respond to lower prices may: A. Purchase more of less expensive items B. Purchase less of more expensive items C. Maximize their own utility D. Produce goods or services 5. People respond to higher prices may: A. Purchase more of less expensive items B. Purchase less of more expensive items C. Maximize their own utility D. Produce goods or services 6. Economic resources are the things that go into: A. The making of goods and services B. Maximizing their own utility C. Purchasing less of more expensive items D. Purchasing more of less expensive items 7. Business firms must determine how to use their limited resources to: A. Maximize profits B. Maximize utility C. Maximize welfare D. All of the above 8. The scarcity problem central to all economic decisions is due to: A. Unlimited income B. Limited resources C. Unlimited wants D. B and C 9. The basic goals in all sectors of the economy include: A. Utility maximization B. Profit maximization C. Welfare maximization D. All of the above 10.Households decide how to maximize their utility by: A. Selling factors of production B. Purchasing goods and services C. Producing public goods D. Redistributing income Ms ThuVan.Bui M.A. FLD - UFA