Introduction to the Principles of Economics

Businesses considers the competition to bring them competitive advantages

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

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

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

Malaysia is currently in what stage of the economic cycle

Internal factors that determines product pricing excluding

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

The law of demand explains the relationship between

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

A monopoly refers to

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

Choose the best explanation for Equilibrium

During Point D, the government must carry out

During recovery, business starts to improve their operations allowing for

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

The following can be impacted by the trade cycle except

The monetary policy consist of the adjustment in money supply and________________

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

Macroeconomics is concerned with:

A monopoly is best defined as

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

The petrol companies are examples of

During Point B, the government must carry out

Enuit community applies the ___________ economic system

In an economic downfall.......

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

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

Microeconomics is NOT concerned with

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

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

Microeconomics looks into the decision making in

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

Inflationary rates increases during the recession

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

The concept of microeconomics excluding

The supply of a product in a business will increase when

choose the outcome of the below situation

Is Scarcity and Rarity the same concept

The perfect competition exists in real life today in the USA

One Macroeconomic Goal that any country wishes to obtain is

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

State the advantage of command economy

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

During the Economic Boom, there is a

There are no barrier to entry in imperfect competition

The goals of Microeconomics include the following except for

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

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

The law of demand states that if

The economic system that do not exist is