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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. 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?
(a) Communism.
(b) Money market.
(c) Asset allocation.
(d) Capitalism.

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

3. What represents the original capital paid into or invested in the business by its founders?
(a) Stock.
(b) Bond.
(c) Pork barrel.
(d) Collateral.

4. 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?"

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

Short Answer Questions

1. OPEC has maintained its headquarters where since 1965?

2. Gary Becker is a professor of economics, sociology at what institution?

3. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

4. What is the capital of the Republic of Cuba?

5. What is the capital of the Democratic People's Republic of Korea?

(see the answer key)

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