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

Multiple Choice Questions

1. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Reinstitution of Communism.
(b) World domination.
(c) Brand recognition.
(d) Freedom for the German people.

2. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who hears New York?"
(b) "Who smells Detroit?"
(c) "Who feeds Paris?"
(d) "Who sees London?"

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

4. What refers to a market where prices are determined by supply and demand?
(a) Controlled market.
(b) Free market.
(c) Influx market.
(d) Random market.

5. When was Douglas Ivester born?
(a) 1947.
(b) 1922.
(c) 1939.
(d) 1958.

Short Answer Questions

1. What describes the extent to which time or effort is well used for the intended task or purpose?

2. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

3. OPEC is an intergovernmental organization of how many oil-producing countries?

4. What does CEO stand for?

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

(see the answer key)

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