1/21/2021 Q1 PERFORMANCE TASK 5: Attempt review

Home / My courses / BAED-ECON2122-2022S / Week 9: Principles, Tools, and Techniques / Q1 PERFORMANCE TASK 5

Started on Thursday, 21 January 2021, 2:13 PM

State Finished
Completed on Thursday, 21 January 2021, 2:22 PM
Time taken 8 mins 19 secs
Grade 5.00 out of 5.00 (100%)

Question 1
What
Correct type of business consists of two or more people?
Mark 1.00 out of 1.00
Select one:
a. Partnership

b. Sole Proprietorship

c. Franchise

d. Corporation

Question 2
A person
Correct who takes a risk to produce goods and services in search of profit
Mark 1.00 out of 1.00
Select one:
a. Entrepreneur

b. Profiteer

c. Baliff

d. Magistrate

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1/21/2021 Q1 PERFORMANCE TASK 5: Attempt review

Question 3
Correct

Mark 1.00 out of 1.00

What kind of business is BEST described by these statements?

I am the only owner of my

business. I take all the risks of
doing business. I keep all the
profits.

Select one:
a. Sole Propreitorship

b. Cooperative

c. Corporation

d. Partnership

Question 4
What
Correct type of business structure is owned by many people?
Mark 1.00 out of 1.00
Select one:
a. Corporation

b. Sole Proprietorship

c. Partnership

Question 5
A form
Correct of business organization that is authorized to act as a legal entity regardless of the number of owners.
Mark 1.00 out of 1.00
Select one:
a. Corporation

b. Partnership

c. Proprietorship

d. Distributor

◄ Principles, Tools, and Technique Video

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1/21/2021 Q1 PERFORMANCE TASK 5: Attempt review
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VIRTUAL CLASS - WEEK 9 - JAN. 19, 2021 - 3PM ►

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1/21/20 Q1 PERFORMANCE TASK 4: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 6: Market Structures / Q1 PERFORMANCE TASK 4

Started on Thursday, 21 January 2021, 12:47 PM

State Finished
Completed on Thursday, 21 January 2021, 12:49 PM
Time taken 1 min 53 secs
Marks 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1
In a Market
Correct structure called 'Monopoly' there will:
Mark 1.00 out of 1.00
Select one:
a. One firm

b. Many Firms

c. Two Firm
Two firms

d. Few Firms

Question 2
Monopoly
Correct and Monopolistic Competition mean the same:
Mark 1.00 out of 1.00
Select one:
a. False

b. True

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1/21/20 Q1 PERFORMANCE TASK 4: Attempt

Question 3
Correct

Mark 1.00 out of 1.00

Tick the boxes that belong to Imperfect competition:

Select one:
a. Monopsony

b. Perfect

c. Monopolistic

d. Monopoly

Question 4
The main
Correct difference between Oligopoly and duopoly is
Mark 1.00 out of 1.00
Select one:
a. Imperfect Knowledge

b. No. of Firms

c. Strong Bariers

d. Similar Products
Similar Products

Question 5
Given
Correct the type of business or industry below, identify what kind of market structure it belongs to.
Mark 1.00 out of
Ice Cream in1.00
the Philippines.

Select one:
a. Monopolistic Competition

b. Monopoly

c. Oligopoly

d. Perfect Competition

◄ Market Structures Video

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1/21/20 Q1 PERFORMANCE TASK 4: Attempt
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1/21/20 Q1 PERFORMANCE TASK 3: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 5: Elasticities of Demand and Supply / Q1 PERFORMANCE TASK 3

Started on Thursday, 21 January 2021, 10:39 AM

State Finished
Completed on Thursday, 21 January 2021, 10:41 AM
Time taken 1 min 4 secs
Grade 10.00 out of 10.00 (100%)

Question 1
It is the
Correct measure of how much buyers and sellers respond to changes in market conditions.
Mark 1.00 out of 1.00

Answer: Elasticity

Question 2
If you
Correct slow down buying because of a price increase, your demand is
Mark 1.00 out of 1.00
Select one:
a. Inelastic

b. Elastic

c. Normal

d. Strong

Question 3
If you
Correct spend a very small proportion of your income on a product, then
Mark 1.00 out of 1.00
Select one:
a. You will stop buying it if the prices rises even a little.

b. The demand for that product will tend to be price elastic.

c. You will wait for a sale before you buy the item.

d. The demand for that product will tend to be price inelastic.

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1/21/20 Q1 PERFORMANCE TASK 3: Attempt

Question 4
Correct

Mark 1.00 out of

When the percentage change in the price exceeds the percentage change in quantity demanded, then demand is

Select one:
a. Unitary elastic.

b. Elastic.

c. Irrelevant
Irrelevant.

Irrelevant.

d.
Inelastic.

Question 5
Which
Correct of the following is an example of a good with inelastic demand?
Mark 1.00 out of 1.00
Select one:
a. Fresh Lobster

b. Laptop Computers

c. Life-Saving Medicine

d. HD Flat Panel TV Sets

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1/21/20 Q1 PERFORMANCE TASK 3: Attempt

Question 6
Correct

Mark 1.00 out of

If a good has a lot of substitutes, then its demand will tend to be

Select one:
a. None of this

b. Elastic

c. Inelastic

d. Unitary

Question 7
Mercedes
Correct makes a luxury car called the Maybach which sells for approximately $490,000. base price. One would expect the demand for this
product
Mark to of
1.00 out be...
1.00

Select one:
a. Elastic

b. Unitary

c. Inelastic

d. None of this

Question 8
If billionaire
Correct Bill Gates decides he has to have a Maybach, for him it has demand that
Mark 1.00 out of 1.00
Select one:
a. Elastic

b. Inelastic

c. Unitary

d. None of This

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1/21/20 Q1 PERFORMANCE TASK 3: Attempt

Question 9
Correct

Mark 1.00 out of

Total revenue is defined as

Select one:
a.
The amount of profit a company makes after paying
taxes. The amount of profit a company makes after
paying taxes. The amount of profit a company makes
after paying taxes. The amount of profit a company
makes after paying taxes.

The amount of profit a company makes after paying taxes.

The amount of profit a company makes after paying taxes.

The amount of profit a company makes after paying taxes.

b.
The amount of money affected by price elasticity.

c.
The total amount of money a company takes in for selling its goods

d.
The amount of profit a company makes.

Question 10
A graph
Correct that shows a product with elastic demand will tend to be...
Mark 1.00 out of 1.00
Select one:
a. Backward bending.

b. Finding equilibrium faster.

c. More straight up and down.

d. Flatter
Flatter.

◄ Elasticities of Demand and Supply Video

VIRTUAL CLASS - WEEK 5 TOPICS - JAN. 7, 2020 3PM ►

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1/21/20 Q1 WRITTEN WORK 4: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 4: Demand and Supply in Relation to Prices of Basic Commodities

/ Q1 WRITTEN WORK 4

Started on Thursday, 21 January 2021, 10:26 AM

State Finished
Completed on Thursday, 21 January 2021, 10:27 AM
Time taken 56 secs
Marks 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1
The state
Correct of balance when demand is equal to supply.
Mark 1.00 out of 1.00

Answer: Equilibrium

Question 2
Which
Correct one of the following is the best explanation of market equilibrium?
Mark 1.00 out of 1.00
Select one:
a. Where market supply equals market demand

b. Where price equals supply

c. Where markets for goods equal markets for services

d. Where price equals demand

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1/21/20 Q1 WRITTEN WORK 4: Attempt

Question 3
Correct

Mark 1.00 out of 1.00

A table showing how much of a good or service consumers will want to buy at different prices

Answer: demand schedule

Question 4
shortages
Correct occur when the quantity demanded exceeds the quantity supplied. When the market price is held below the equilibrium price.
Mark 1.00 out of 1.00
Select one:
a. Substitute

b. Normal Goods

c. Shortage

d. Demand Schedule

Question 5
The actual
Correct amount of a good or service people are willing to sell at some specific price.
Mark 1.00 out of 1.00
Select one:
a. Demand Schedule

b. Quantity Supplied

c. Positive Economics

d. Supply Schedule

◄ Week 004 Demand and Supply in Relation to the Prices of Basic Commodities

VIRTUAL CLASS JAN. 6, 2021 3:00PM TO 4:00PM ►

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1/21/20 Q1 WRITTEN WORK 3: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 3: Basic Principles of Demand and Supply / Q1 WRITTEN WORK 3

Started on Thursday, 21 January 2021, 10:21 AM

State Finished
Completed on Thursday, 21 January 2021, 10:22 AM
Time taken 26 secs
Marks 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1
When
Correct graphing supply and demand, price is always on which axis
Mark 1.00 out of 1.00
Select one:
a. Horizontal

b. Vertical

Question 2
Which
Correct of the following is not a component of Demand?
Mark 1.00 out of 1.00
Select one:
a. Ability

b. Desire

c. Willingness

d. Surplus

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1/21/20 Q1 WRITTEN WORK 3: Attempt

Question 3
Correct

Mark 1.00 out of 1.00

The supply curve always slopes in what direction?

Select one:
a. Down

b. Up

Question 4
The Law
Correct of Supply states:
Mark 1.00 out of 1.00
Select one:
a. as price increases, supply increases

b. as price decreases, quantity demanded decreases

c. as price increases, quantity demanded decreases

d. as prices decrease, supply increases

Question 5
Which
Correct of the following is not a component of demand?
Mark 1.00 out of 1.00
Select one:
a. Willingness

b. Desire

c. Surplus

d. Ability

◄ Week 003 Basic Principles of Demand and Supply

Week 004 Demand and Supply in Relation to the Prices of Basic Commodities ►
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1/21/20 Q1 WRITTEN WORK 2: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 2: Economics as an Applied Science / Q1 WRITTEN WORK 2

Started on Thursday, 21 January 2021, 10:17 AM

State Finished
Completed on Thursday, 21 January 2021, 10:17 AM
Time taken 25 secs
Marks 5.00/5.00
Grade 10.00 out of 10.00 (100%)

Question 1
A field
Correct that applies of economic theories and principles to real-world situations with the desired aim of predicting potential outcomes.
Mark 1.00 out of 1.00
Select one:
a. Economic Theory

b. Applied Economics

c. Economics

Question 2
A field
Correct that applies of economic theories and principles to real-world situations with the desired aim of predicting potential outcomes.
Mark 1.00 out of 1.00
Select one:
a. Social Science

b. Applied Economics

c. Macroeconomics

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1/21/20 Q1 WRITTEN WORK 2: Attempt

Question 3
Correct

Mark 1.00 out of 1.00

are the producing units in the economy.

Select one:
a. Consumer

b. Producer

c. Firm

d. Household

Question 4
What can happen in a planned economy that does not happen in a market economy?
Correct

Mark 1.00 out of 1.00

Select one:
a. The allocation of resources can take account of the total effects on society.

b. There can be full employment of factors of production.

c. There can be inflation.

d. There can be international trade.

Question 5
Which
Correct of the following is a factor of production?
Mark 1.00 out of 1.00
Select one:
a. The skill of the managers of a business

b. The payment of interest on a bank loan

c. The taxes paid to the government

d. The profit declared by a company in its annual report

◄ Week 002 Economics as an Applied Science

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1/21/20 Q1 WRITTEN WORK 2: Attempt
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1/21/20 Q1 WRITTEN WORK 1: Attempt

Home / My courses / BAED-ECON2122-2022S / Week 1: Introduction to Economics / Q1 WRITTEN WORK 1

Started on Thursday, 21 January 2021, 10:09 AM

State Finished
Completed on Thursday, 21 January 2021, 10:10 AM
Time taken 51 secs
Grade 5.00 out of 5.00 (100%)

Question 1
The study
Correct of how society manages its scarce resources.
Mark 1.00 out of 1.00
Select one:
A. Economics

B. Allocation

C. Scarcity

D. Applied Economics

Question 2
What
Correct is the study of economic behavior and decision making of small units, such as individuals, families, and businesses called?
Mark 1.00 out of 1.00
Select one:
A. Economic statistics

B. Macroeconomics

C. Microeconomics

D. Economics

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1/21/20 Q1 WRITTEN WORK 1: Attempt

Question 3
Correct

Mark 1.00 out of 1.00

This is the authoritative system wherein decision-making is centralized in the government or a planning committee. This kind of economy
holds true in dictatorial, socialist, and communist nations

Select one:
A. Traditional Economy

B. Command Economy

C. Market Economy

Question 4
Defined
Correct as the market value of final products produced within the country
Mark 1.00 out of 1.00

Answer: Gross Domestic Product

Question 5
A condition
Correct where there are insufficient resources to satisfy needs and wants of a population.
Mark 1.00 out of 1.00

Answer: Scarcity

◄ Introduction to Economics Video

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