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Free FSOT Exam Braindumps (page: 17)

Page 16 of 81
PDF with 320 Questions
View Related Case Study

Which best defines laissez-faire capitalism?

  1. Business activity and natural resource usage and distribution are not regulated by the government
  2. Government controlled distribution of natural resources with little involvement in other sectors of the economy
  3. Ownership of the means of productions is split between public and private entities
  4. Existence of extensive legislation governing internal trade

Answer(s): A



View Related Case Study

A statement from Exxon-Mobile that their third quarter profits were down 15% from last year is an example of:

  1. Normative economics
  2. Positive economics
  3. Macroeconomics
  4. Differentiated economics

Answer(s): B



View Related Case Study

Which of the following defines the opportunity cost of production?

  1. Using a resource in one capacity in production eliminates the ability to use it in another
  2. Loss of potential profit in order to capture a larger market share
  3. Streamlining production costs to maximize profit
  4. Increasing overhead costs in order to expand production

Answer(s): A



View Related Case Study

Which best describes the economy of the United Kingdom of Great Britain?

  1. Traditional economy
  2. Command economy
  3. Market economy
  4. Mixed economy

Answer(s): D






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