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Sophia __ Microeconomics Final Milestone.
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Sophia __ Microeconomics Final Milestone.
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Score 17/25You passed this Milestone
17 questions were answered correctly.
MILESTONE
8 questions were answered incorrectly..
1
Which of the following is true about the field of economics?
Economics as a field of study was introduced during the Industrial Revolution and has not changed over
time
Economics can correctly predict when a recession is coming and how long it will last
Economics is commonly broken into Labor Economics and Consumer Economics
Economics is a social science that intersects with other fields of study
CONCEPT
What is Economics?
2
A real estate agency’s policy is to start all sales commission negotiations at 6%. However, the agency is willing
to accept sales commissions as low as 5%.
The scenario above is an example of which principle?
Ceteris paribus
, Consumer surplus
Deadweight loss
Producer surplus
CONCEPT
Market Equilibrium
3
CEOs are limited in making policy changes regarding climate change by all of the following EXCEPT
__________.
investor support which is linked directly to profits
the necessity to think in the long term rather than the short term
his/her fiduciary responsibility to the company
needing support from the Board of Directors
CONCEPT
Sustainable Returns--Investor Impact
4
A person who consumes a good without paying for it is known as a(n) __________.
free rider
rival
producer
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