Economics questions and answers

Q : fiscal policies establish a government’s plans for taxation and

Ans: Spending

Q: In constructing models economists?

Ans: economists make assumptions

Q: In a competitive market free of government regulation

Ans: the price is balanced until the time when the quantity demanded becomes even with the quantity supplied. The volume of sales in the market will remain the same.

Q: The smallest most local type of economy is a

Ans: Market Economy

Q: the narrower the definition of a product

Ans: there is lesser number of alternates and the price elasticity of demand is high.

Q: creating competition between employees within the corporation

Ans: generally is believed to make the employees to take steps that will fool the buyers.

Q: while contracting with celebrities to endorse a company’s brand

Ans: increases the product’s competing ability when compared to its competitors, one of the main issues the company has look into when thinking of approaching a popular star for endorsing their product is accurately calculating the cash/fund flow in the company and make sure that they will be able to pay the desired reputation for the stars without borrowing any funds or by reducing the dividend for their shareholders.

Q: in managing production worker compensation and expenditures

Ans: The main company’s manager should fix high remuneration by keeping in mind the geological location of the company and the current industry standards.

Q: companies that outsource research and development and design jobs

Ans: face the potential risk of foreign companies using their knowledge and intelligence to produce similar goods that will turn to be rival products.

Q: a successful grocery store would probably have

Ans: a high stock turnover as all the stocks would be sold easily and will have to be restored often.

Q:  promotional scheduling

Ans: Promotional scheduling refers to one single advertisement being used for a long period of time to promote the products or events.

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