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Economics Quiz Flashcards | StudBud

Explore/Economics Quiz

Economics Quiz

5 terms·StudBud Administration·57 plays

A quick reminder of some economics basics to get us started!

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Questions 5

Answers

1
What supply constraints do restaurants have?
Specialised supply constraints
No supply constraints
Hard supply constraints
Soft supply constraints
2
The study of production, consumption and transfer of wealth is?
Marketing
Sales Management
Economics
Revenue Management
3
The responsiveness of quantity demanded to a change in price is called?
Elasticity of supply
Arc elasticity
Market clearing
Price elasticity of demand
4
A pair of goods/services considered by consumers to be alternatives to each other are called?
Substitute goods
Normal goods
Complementary goods
Inferior goods
5
What supply constraints do hotels have?
No supply constraints
Specialist supply constraints
Hard supply constraints
Soft supply constraints