Economics Paper 5

1

Demand for a product tends to be price inelastic if






2

Which of the following has the highest price elasticity coefficient?






3

The local video store’s business increased by 12% after the movie theater raised its prices from $6.50 to $7.00. Thus, relative to movie theater admissions, videos are






4

An individual receives an income of $3,000 per month, and spends $2,500. An increase in income of $500 per month occurs, and the individual spends $2,800. The individual’s marginal propensity to save is






5

Which of the following is not one of the five forces in Porter’s model for industry analysis?






6

Which of the following is a defining characteristic of supply chain management?






7

Which of the following is not a likely strategy for a firm in a purely competitive market?






8

What is the purpose of a response profile in competitor analysis?






9

The process of dividing all potential consumers into smaller groups of buyers with distinct needs, characteristics, or behaviors, who might require a similar product or service mix, is called






10

Which of the following measures of unemployment would be of least importance to management when trying to predict the future state of the economy?






Result

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