Econ 102 Study guides, Class notes & Summaries

Economics can be defined as the social science that explains the ________. Choices that we make as we cope with scarcity An example of a question that might be explored in microeconomics is to determine The number of workers employed by Intel Scarcity is a situation in which ________ (1) We are unable to satisfy all our wants (A) People must make choices because Of scarcity In every economic system, choices must be made because resources are ________ and our wants...

Economics can be defined as the social science that explains the ________. Choices that we make as we cope with scarcity An example of a question that might be explored in microeconomics is to determine The number of workers employed by Intel Scarcity is a situation in which ________ (1) We are unable to satisfy all our wants (A) People must make choices because Of scarcity In every economic system, choices must be made because resources are ________ and our wants...

ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES Multiple Choice Questions(ch6) 32. The set of decisions that managers make to assist the organization to achieve its goals is known as: A) strategy. B) scenario planning. C) SWOT analysis. D) diversification. E) related diversification. Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 33. A broad statement of the organization's purpose, products, and customer base that differentiate the organization from its co...

ECON 102 QUIZ 1 QUESTIONS AND ANSWERS 1. What is the primary goal of financial management? A) Increased earnings B) Maximizing cash flow C) Maximizing shareholder wealth D) Minimizing risk of the firm 2. The partnership form of organization A) avoids the double taxation of earnings and dividends found in the corporate form of organization. B) usually provides limited liability to the partners. C) has unlimited life. D) simplifies decision making. 3. Increased pro...

ECON 102 QUIZ 1 QUESTIONS AND ANSWERS 1. What is the primary goal of financial management? A) Increased earnings B) Maximizing cash flow C) Maximizing shareholder wealth D) Minimizing risk of the firm 2. The partnership form of organization A) avoids the double taxation of earnings and dividends found in the corporate form of organization. B) usually provides limited liability to the partners. C) has unlimited life. D) simplifies decision making. 3. Increased pro...

ECON 102 CH5 DECISION MAKING, LEARNING, CREATIVITY, AND ENTREPRENEURSHIP Multiple Choice Questions ( ch5) 31. The process by which managers respond to opportunities and threats facing their organization by analyzing options and taking actions is known as: A) brainstorming B) intuition C) decision making D) bounded rationality E) heuristics Answer: C Page: 219 Difficulty: Easy Learning Objective: 1 32. Managers make decisions when they are involved in which managerial function? A) Plann...

ECON 102 QUIZ 2 QUESTIONS AND ANSWERS 25. When using the economic order quantity model A) ordering costs increase as the level of inventory increases. B) carrying costs decrease as the level of inventory increases. C) costs are minimized when total carrying costs and total ordering costs are equal. D) none of the above Difficulty: Medium Type: Conceptual 26. Hedging A) is a way to protect your accounts receivable position. B) increases risk. C) is a legal agreement to buy or se...

ECON 102 QUIZ 1 QUESTIONS AND ANSWERS 1. What is the primary goal of financial management? A) Increased earnings B) Maximizing cash flow C) Maximizing shareholder wealth D) Minimizing risk of the firm 2. The partnership form of organization A) avoids the double taxation of earnings and dividends found in the corporate form of organization. B) usually provides limited liability to the partners. C) has unlimited life. D) simplifies decision making. 3. Increased productivity ...

ECON 102 QUIZ 1 QUESTIONS AND ANSWERS 1. What is the primary goal of financial management? A) Increased earnings B) Maximizing cash flow C) Maximizing shareholder wealth D) Minimizing risk of the firm 2. The partnership form of organization A) avoids the double taxation of earnings and dividends found in the corporate form of organization. B) usually provides limited liability to the partners. C) has unlimited life. D) simplifies decision making. 3. Increased productivity ...