Introduction to the Principles of Economics

When the employees salary goes up, what happens to the supply

Is Scarcity and Rarity the same concept

USA is a country with more technological advancement than Malaysia. Thus, their economy has slower growth

Enuit community applies the ___________ economic system

Macroeconomics is concerned with:

One Macroeconomic Goal that any country wishes to obtain is

Choose the best explanation for Equilibrium

The petrol companies are examples of

The following can be impacted by the trade cycle except

In an economic downfall.......

Microeconomics is NOT concerned with

When the price of milk increases, what happens to the demand of cereal

During the Economic Boom, there is a

The fiscal policy consist of the changes in taxes and money supply

The goals of Microeconomics include the following except for

The normal economic trade cycle consists of the following stages except:

Despite the recessions and inflations that occur, the overall GDP shows pattern of increase in long term

Choose the statement with the correct distinction of microeconomic and macroeconomic concepts

Inflationary rates increases during the recession

During recovery, business starts to improve their operations allowing for

The regular clothing retail market is an example of what type of competition?

Malaysia is currently in what stage of the economic cycle

The perfect competition exists in real life today in the USA

The attempt to purchase Barcelona star Frenkie de Jong, or Benfica's Darwin Nunez by Manchester United is an example of

The condition of the trade cycle can be monitored by the following indicators except

Based on the following, choose the one that is not a variable or unknown factor in Microeconomic decision making.

The monetary policy consist of the adjustment in money supply and________________

Microeconomics includes in-depth studies of GDP, Inflation Rates and Unemployment Rates

Businesses considers the competition to bring them competitive advantages

The law of demand explains the relationship between

The economic system that do not exist is

During Point B, the government must carry out

The concept of microeconomics excluding

A monopoly refers to

Microeconomics looks into the decision making in

Choose the external factor that determines product pricing that relates to interest rates and inflation

When there the price is set higher than the equilibrium price, a shortage will occur

During the recession, there is reduce in the demand and consumer confidence

Choose the concept linked to this definition "value of the alternative forgone"

Internal factors that determines product pricing excluding

A monopoly is best defined as

There are no barrier to entry in imperfect competition

The law of demand states that if

The economic system that has both public and private sectors are called

State the advantage of command economy

The supply of a product in a business will increase when

When there is a marketing campaign for Coca-Cola, the demand curve shift to the______

During Point D, the government must carry out

when the minimum wage increases, what happen to the demand for necessary product

choose the outcome of the below situation