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This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.

Multiple Choice Questions

1. According to the author in Chapter 1, companies want to profit, and consumers want what?
(a) Satisfaction.
(b) Safety.
(c) Results.
(d) Education.

2. Ross Perot ran for President of the United States in what year?
(a) 1992.
(b) 2000.
(c) 2002.
(d) 1988.

3. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) The uniform pay scale.
(b) Capitalism.
(c) Legislation.
(d) Supply and demand.

4. What refers to the increasingly global relationships of culture, people and economic activity?
(a) Monopoly.
(b) Consolidation.
(c) Globalization.
(d) Slavery.

5. In economics, what is a good that is non-rival and non-excludable?
(a) A public good.
(b) A corporate good.
(c) A private good.
(d) A government good.

Short Answer Questions

1. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

2. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

3. What are negative results which occur while trying to achieve a goal for the common good?

4. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

5. What is a form of tourism involving visiting fragile, pristine, and usually protected areas, intended as a low impact and often small scale alternative to standard commercial tourism?

(see the answer key)

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