Dwnload Full Understanding Canadian Business Canadian 8th Edition Nickels Test Bank PDF
Dwnload Full Understanding Canadian Business Canadian 8th Edition Nickels Test Bank PDF
Dwnload Full Understanding Canadian Business Canadian 8th Edition Nickels Test Bank PDF
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02
Student: ___________________________________________________________________________
1. The study of how society chooses to employ resources to produce goods and services and to distribute
them for consumption among various competing groups and individuals is known as sociology.
True False
2. Economics is the study of how people use resources to produce goods and services and distribute them
for consumption among various competing groups and individuals.
True False
3. Macroeconomics is the economic perspective that looks at the operation of a nation's economy as a
whole.
True False
4. Microeconomics focuses on the decisions and behaviour of people and organizations in particular
markets.
True False
5. Resource development is concerned with finding the best way to utilize the declining amount of resources
a society has available.
True False
6. Economist Sue Pligh is examining how consumers in the automobile market have responded to
recent price increases by car manufacturers. Sue's efforts reflect the microeconomic perspective of
economics.
True False
7. The primary difference between macroeconomics and microeconomics is that macroeconomics looks at
long run economic problems while microeconomics examines short run economic problems.
True False
8. Adam Smith wrote The Wealth of Nations.
True False
9. Adam Smith believed that the key to creating rising standards of living was to limit population
growth.
True False
10. Adam Smith believed the self-interest of businesspeople would lead them to create needed goods,
services, and jobs.
True False
11. The "invisible hand" in Adam Smith's theory refers to the efforts of the government to control the
operation of markets.
True False
12. Adam Smith believed that since businesspeople are motivated to improve their own prosperity, their
actions are unlikely to benefit society as a whole.
True False
13. Adam Smith believed that an economic system couldn't truly prosper unless people were taught to value
the welfare of others above their own personal gain.
True False
Author: Various
Language: English
Credits: Charlene Taylor, David Garcia, Jon Ingram and the Online
Distributed Proofreading Team at https://www.pgdp.net (This
file was produced from images generously made available by
The Internet Library of Early Journals. Noted on site that this
resource is no longer available.)
THE BUILDER.
PRECURSOR NUMBER.
THIRD IMPRESSION OF FIVE THOUSAND.