Mindblown: a blog about philosophy.
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Which helps enable an oligopoly to form within a market?
Which helps enable an oligopoly to form within a market? (i) The government restricts market entry. (ii) Costs of starting a competing business are too high. (iii) The number of options in the market confuses consumers. (iv) No competition exists between producers. Answer: The correct options and i) and ii). An oligopoly is a kind…
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Toothpaste and toothbrushes are complements, so the _____ elasticity of demand is _____.
Toothpaste and toothbrushes are complements, so the _____ elasticity of demand is _____. a. cross; positive b. income; negative c. cross; negative d. income; positive Answer: c. cross; negative This question is connected to the cross elasticity of demand between related products, which are the goods which consumers tend to of more often in the…
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According to Freud, the pleasure principle is most closely associated with _____.
According to Freud, the pleasure principle is most closely associated with _____. (a) superego (b) ego (c) id (d) preconscious mind. Answer: (c) id As described by Sigmund Freud’s psychoanalytic theory, the id straddles the pleasure principle’s context. In this respect, it is worthy of note that the id is the original and animalistic component…
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What is the main goal in creating the federal budget?
What is the main goal in creating the federal budget? a. managing businesses and increasing spending on all programs. b. deciding how to manage the government’s tax revenue and expenditures. c. finding a way to allow the economy to run on its own. d. finding a way to slow down rapid economic growth. Answer: b.…
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The cost of a manufactured product generally consists of which of the following costs?
The cost of a manufactured product generally consists of which of the following costs? a. direct labor cost and factory overhead cost b. direct materials cost and direct labor cost c. direct labor cost, direct materials cost, and factory overhead cost d. direct materials cost and factory overhead cost Answer: c. direct labor cost, direct…
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In public speaking, the process of drawing a conclusion based on evidence is called?
In public speaking, the process of drawing a conclusion based on evidence is called? A. estimating. B. research. C. concluding. D. reasoning. Answer: D. reasoning. In public speaking, when a conclusion is deduced from the evidence process then this is referred to as reasoning. Reasoning then refers to a structured and coherent process of making…
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Goods that are necessities are very likely to have: a) A very low supply b) highly elastic demand
Goods that are necessities are very likely to have: a) A very low supply b) highly elastic demand c) highly elastic supply d) very low demand e) highly inelastic demand Answer: e) highly inelastic demand Luxury products are very likely to have perfectly elastic demand whereas items like food, water, and shelter can best be…
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Which of the following statements is true regarding variable cost?
Which of the following statements is true regarding variable cost? a. Variable cost increases on a per unit basis as the number of units produced increases. b. Variable cost remains constant on a per unit basis as the number of units produced increases. c. Variable cost remains the same in total as production increases. d.…
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Which of the following is the most important step in the decision-making process?
Which of the following is the most important step in the decision-making process? a. Determine the objective. b. Explore the alternatives. c. Define the problem. d. Make a choice. Answer: c. Define the problem. Problem formulation is therefore regarded as being the single most critical stage of decision making. Knowledge of the actual problem in…
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What is a centrifugal force in human geography?
Question:- What is a centrifugal force in human geography? Answer: In human geography, centrifugal forces can be understood as the factors which tend to push the people and economic activities as well as the urban growth beyond the central area, or the city centre. Such forces include; the need for larger houses, lower charges for…
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