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1、1. Whichofthefollowingstatementsiscorrect? a. Buyersdeterminesupply,andsellersdeterminedemand. b. Buyersdeterminedemand,andsellersdeterminesupply. c. Buyersdeterminebothdemandandsupply. d. Sellersdeterminebothdemandandsupply.ANSWER: bDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.092
2、-Examinefirmsincompetitivemarkets.TOPICS: SupplyanddemandKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 001.04.1-MC-MANK082. Thedemandforagoodorserviceisdeterminedby a. thosewhobuythegoodorservice. b. thegovernment. c. thosewhosellthegoodorservice. d. boththosewhobuyandthosewhosellthegoodorse
3、rvice.ANSWER: aDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.203-Givenascenario,determineifamarketiscompetitive.TOPICS: DemandSupplyanddemandKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 002.04.1-MC-MANK083. Thesupplyofagoodorserviceisdeterminedby a. thosewhobuythegoodorservice. b. thego
4、vernment. c. thosewhosellthegoodorservice. d. boththosewhobuyandthosewhosellthegoodorservice.ANSWER: cDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.203-Givenascenario,determineifamarketiscompetitive.TOPICS: SupplyanddemandSupplyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 003.04.1-MC-MA
5、NK084. Agroupofbuyersandsellersofaparticulargoodorserviceiscalleda(n) a. coalition. b. economy. c. market. d. competition.ANSWER: cDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.203-Givenascenario,determineifamarketiscompetitive.CopyrightCengageLearning.PoweredbyCognero.Page 13TOPICS
6、: SupplyanddemandKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 004.04.1-MC-MANK085. Foramarketforagoodorservicetoexist,theremustbea a. groupofbuyersandsellers. b. specifictimeandplaceatwhichthegoodorserviceistraded. c. highdegreeoforganizationpresent. d. Alloftheabovearecorrect.ANSWER: aDIF
7、FICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.203-Givenascenario,determineifamarketiscompetitive.TOPICS: SupplyanddemandKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 005.04.1-MC-MANK086. Whichofthefollowingisanexampleofahighlyorganizedmarket? a. themarketfortextbooks b. themarketfor
