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Economics
Economics
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Questions
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Answers
1
If a rollercoaster gives you 60 utils the first time you ride it and 90 utils the second time - the marginal utility is?
-30
150
30
1.5
2
In economics what is a util?
A rational man
The cost of Gas, Electricity and water
Hypothetical unit measuring satisfaction
A measure of production
3
Supply and Demand is a premise within economics
False
True
4
Traditional economics assumes man is....?
Irrational
Dependable
Calm
Rationale
5
Research shows that money can motivate us - in what circumstance?
If we work outside
When doing highly creative and complicated work
when rewarded for non-creative, basic and often repetitive work
Money always motivates us no matter what type of work we do
6
By increasing productions whilst lowering costs you achieve what?
Efficient scale
Profitable scale
Economies of scale
Premium scale
7
Who developed Doughnut Economics
Kate Raworth
Paul Samuelson
Dan Pink
Frederick Taylor
8
Which one these is not connected to a classical theory of management?
Administrative management
Scientific management
Bureaucratic management
Behavioural management
9
In SWOT opportunities refer to what?
Something that is identified internal within the company
Opportunities that happened in the past
Opportunities limited to hiring or firing staff
External opportunities the company could look to benefit from
10
What are the three elements of intrinsic motivation - in Dan Pink's theory
Autonomy, Purpose and Mastery
Leadership, reward, encouragment
Salary, promotion, benefits
Time, Technique, Team
11
Who developed the Circular Flow Diagram for economics
Kim Cameron
Samuelson
Carol Dweck
Rational man
12
What model focuses on customer touchpoints?
Business Model Canvas
Competing Values Framework
Economic utils
Customer Journey Mapping
13
How important is kindness for business leaders in the 21 century?
Kindness is a weakness and not important
I don't understand the question
It's important in the home, but not in business
Very important and research shows it increases performance (profits)
14
What were we doing when we created Marlon Fisherman
It's an economic team created by group 1
Creating a 'customer' persona (week 7 slides)
I have no idea
Looking for someone to help Malon clean his fishtank?
15
Can you share with us something you watched at Kindfest that could align with donought economics
False
True
16
Did you attend Kindfest on Friday?
True
False
17
In SWOT - Weaknesses are factors internal to the company
True
False
18
What does GDP mean?
Gross Domestic Product
Germany deutschmark premium
Gross data plan
Gross divisional profit
19
And the award for best rapper goes to
Kanye
Drake
Snoop Dog
The BU Gs
20
I now have a better understanding of economics
Yes
No
What's Economics
I went back to bed as its boring
