Econ
The study of how people seek to satisfy their needs and wants by making choices
Economics
an economy in which production, investment, prices, and incomes are determined centrally by a government.
Command Economy
Which of the following is a defining feature of an oligopoly?
A. Many small firms producing identical goods
B. A single seller dominating the market
C. A few large firms that are interdependent
D. No barriers to entry
C. A few large firms that are interdependent
U.S. Postal Service (first-class mail)
Monopoly
The Olympics are held every how many years?
4 years
Which band sings the song "Mr. Brightside"
The Killers
Who was the youngest President to serve in office
Teddy Roosevelt
the study of how households and firms make decisions and how they interact in markets
microeconomics
an economic system combining private and public enterprise.
Mixed Economy
In a monopoly, what is the primary reason a firm can control the price of its product?
A. There are no barriers to entry for other firms.
B. It produces goods that are identical to competitors'.
C. It is the sole seller of a unique product with no close substitutes.
D. There are many competitors offering the same product.
C. It is the sole seller of a unique product with no close substitutes.
Basic raw materials (iron ore, copper, aluminum in large exchanges)
Perfect Competition
Which golf tournament did Tiger Woods win by 12 strokes cementing his first-ever major championship win?
The Masters
Who is known as the king of rocking roll?
Elvis Presley
What is the "powerhouse of the cell"
The mitochondria
the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth
macroeconomics
An economic system based upon the fundamentals of private property, freedom, self-interest, and prices
Market Economy
What type of market structure is most likely to involve collusion among firms?
A. Perfect Competition
B. Monopoly
C. Oligopoly
D. Monopolistic Competition
C. Oligopoly
Airlines: American, Delta, United, Southwest
Oligopoly
Where will the 2028 Summer Olympics be held?
Los Angeles
Which band sings "Free Bird"
lynyrd skynyrd
The is the largest bone in the human body
The femur
A situation in which unlimited wants exceed the limited resources available to fulfill those wants
Scarcity
A system in which society, usually in the form of the government, owns and controls the means of production.
Socialism
In which market structure do firms compete by differentiating their products rather than focusing solely on price?
A. Perfect Competition
B. Monopoly
C. Oligopoly
D. Monopolistic Competition
D. Monopolistic Competition
Soft drinks: Coca-Cola, Pepsi, Dr. Pepper
Oligopoly
What do you call it when a bowler makes three strikes in a row?
Turkey
Who did Rolling Stone Magazine name the best guitar player of all time?
Jimi Hendrix
how many amendments does the constitution have
27
Cost of the next best alternative use of money, time, or resources when one choice is made rather than another
Opportunity Cost
A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
Communism
Which market structure is characterized by a large number of firms producing identical products?
A. Monopoly
B. Oligopoly
C. Perfect Competition
D. Monopolistic Competition
C. Perfect Competition
Ice cream: Baskin-Robbins, Dairy Queen, Cold Stone, Ben & Jerry’s
Monopolistic Competition
The Triple Crown award is given to a horse that wins which three races?
Kentucky Derby
What is the highest grossing music tour of all time?
Taylor Swift's Eras tour
what is the oldest age anyone has ever lived
Jeanne Calment, a French woman, holds the record for the oldest age ever lived at 122 years and 164 days