Which of the following is an example of entrepreneurship?
A) a student who produces and sells t-shirts at a football game
B) all of the above
C) an employee who figures out how to make her services more valuable to the business for which she works
D) a 15-year old who operates a lemonade stand during hot summer days
B) all of the above
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A situation in which a country does not take part in international trade is known as
A) autarky. B) openness neglect. C) indifference tradeoff. D) protectionist point.
Most innovation comes from universities and governments, which are inherently market driven.
Answer the following statement true (T) or false (F)
Economists assume that people are motivated by
A. the interests of the community at large. B. self-interest. C. morally correct behavior. D. a desire to please others.
What development in the 1970s and 1980s is considered one of the most extensive experiments in industrial policy in the last half-century?
A. Extensive antitrust enforcement B. Increased breakups of monopolies C. Deregulation of industries D. Fostering natural monopolies