Question 1
What is meant by consumers?
A.
Making a logical choice. B.
Ethical dilemma testing utilitarian vs deontological choices. C.
End users of a good/service. D.
Studies when agents fail to act rationally.
Question 2
What is meant by firms?
A.
Satisfaction from one extra unit consumed. B.
Making a logical choice. C.
End users of a good/service. D.
Businesses producing goods/services.
Question 3
What is meant by trolley problem?
A.
End users of a good/service. B.
Assumed goal of firms. C.
Businesses producing goods/services. D.
Ethical dilemma testing utilitarian vs deontological choices.
Question 4
Utility measures:
A.
Government spending B.
Only price C.
Tax revenue D.
Satisfaction from consumption
Question 5
Firms are assumed to:
A.
Maximise profit B.
Minimise utility C.
Only export D.
Ignore costs
Question 6
What is meant by behavioural economics?
A.
Making a logical choice. B.
Satisfaction from one extra unit consumed. C.
Consumers, firms or government. D.
Studies when agents fail to act rationally.
Question 7
What is meant by rational?
A.
Satisfaction from consuming or producing. B.
Ethical dilemma testing utilitarian vs deontological choices. C.
Assumed goal of firms. D.
Making a logical choice.
Question 8
What is meant by assumptions?
A.
Satisfaction from one extra unit consumed. B.
Ethical dilemma testing utilitarian vs deontological choices. C.
End users of a good/service. D.
Simplifications needed to build models.
Question 9
What is meant by utility?
A.
Businesses producing goods/services. B.
Satisfaction from consuming or producing. C.
Consumers, firms or government. D.
Assumed goal of firms.
Question 10
What is meant by profit maximisation?
A.
Making a logical choice. B.
Satisfaction from consuming or producing. C.
Assumed goal of firms. D.
End users of a good/service.
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