The Southeastern European Economies2024-02-14Price-based or Target Costing2024-02-14 Report a question What's wrong with this question? You cannot submit an empty report. Please add some details. 12345678910 Basic Microeconomics Advanced Business English practice 10 multiple-choice questions If you log in, you will get the results via email. Category: business-advanced 1. A .......... concept in understanding microeconomics is that of utility: utility is how much a product pleases people. casual crucial causal correlative Category: business-advanced 2. Marginal utility is how much every .......... quantity of a product pleases; it tends to drop as the numbers of a product consumed increases. incidental discontinuous detrimental incremental Category: business-advanced 3. Consumers choose what products they want to buy by comparing something's .......... and its utility. value price worth availability Category: business-advanced 4. They will pick the product that gives them the biggest .......... for the buck, the product that gives them the greatest satisfaction for every unit of money spent. boff bite bash bang Category: business-advanced 5. Based on the law of demand, quantity demanded is inversely .......... to price. correlated related associated supplied Category: business-advanced 6. 'Perfect competition' is defined as economic forces .......... uninterrupted by any other force. on top on track at play at work Category: business-advanced 7. In reality, no .......... thing as a true perfectly competitive market exists; there are other types of market structures, however --- monopoly, oligopoly, and monopolistic competition. same sure said such Category: business-advanced 8. In monopolistic competition, there are many firms .......... for control of one market. jostling vying forging sidling Category: business-advanced 9. Oligopoly is a small number of competing firms, so the key property of oligopolies is that all firms .......... strategic planning. ensure eschew execute estimate Category: business-advanced 10. Some oligopolies act as cartels, in which many firms act as one the same in secret in tandem Your score is The average score is 0% LinkedIn Facebook Twitter Restart quiz Share0