Which of the following is the oldest economic system?
a. command economy
b. traditional economy
c. market economy
d. underground economy
b. traditional economy
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How can a sole proprietorship raise funds needed for firm expansion?
What will be an ideal response?
What three sources of revenue finance the EU budget?
What will be an ideal response?
One reason a computer manufacturer may make its own microchips rather than buy them is that
a. it can maintain control over the quality during production b. the total cost of components is the same as the price of chips purchased from a chip manufacturer c. firms do not make high-quality microchips d. managers at the computer firm place a high value on their time e. firms do not produce goods for the market that can be made in-house
Suppose the price levels in an economy in four successive years are 100, 120, 133, and 140 . Which of the following is true in such a case? a. The economy is experiencing hyperinflation
b. The economy is experiencing deflation. c. The economy is experiencing inflation. d. The economy is experiencing increasing inflation. e. The economy is experiencing disinflation.