Reference no: EM132214569
1. If a community college decided to build an academic building, then the money and resources would not be available for a parking garage. This is an example of:
a- operational cost,B- productions, c- optimization,d- operational cost
2. One of the benefits of labor specialization is that:
a- labor and specialization establishes different citiesas industrial hubs b-workers who specialize in certain tasks often learn to produce more slowely with lower quiality
c- it allows workers to focus on a particular job and focus on the parts of the production process in which they have an advantage
d-specialized workers are more productive when producing a combination of things with which they are good at and some of which they are not
3. The field of economics that looks at the economy as a whole and focuses on broad issues such as growth, unemployment, inflation, and trade balance is:
a- macroeconomics b-microeconomics c- mixed economics d-global economics
4. When economists talk about supply, they are referring to a relationship between the price in a market and the:
a- equiillibrium quantity b- government policies c- amount that buyer wishes to purchase d-amount that producers collectively make available for sale