Name: _________________________ | Period: ___________________ |
This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.
Multiple Choice Questions
1. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Legislation.
(b) Per capita.
(c) Trade-off.
(d) Adverse selection.
2. According to the author in Chapter 1, companies want to profit, and consumers want what?
(a) Satisfaction.
(b) Education.
(c) Safety.
(d) Results.
3. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) 1989.
(b) 1977.
(c) 1969.
(d) 1982.
4. What are negative results which occur while trying to achieve a goal for the common good?
(a) Perverse incentives.
(b) Ghost incentives.
(c) Unknown incentives.
(d) Abstract incentives.
5. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
(a) Index.
(b) Predictability.
(c) Security.
(d) Recession.
Short Answer Questions
1. OPEC has maintained its headquarters where since 1965?
2. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
3. When was Douglas Ivester born?
4. What country withdrew from OPEC in 2008 after it became a net importer of oil?
5. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
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