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Chapter 1: Revenue, Expenses, Factors of Production, Supply and Demand Quiz

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Chapter 1: Revenue, Expenses, Factors of Production, Supply and Demand Quiz

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Questions and Answers

What is the formula for calculating revenue?

Revenue = Price / Quantity

Revenue = Price + Quantity

Revenue = Price x Quantity (correct)

Revenue = (Price x Quantity) / 2

Which of the following is NOT a factor of production or economic resource?

Machinery (correct)

Land

Capital

Labor

Which principle is NOT part of the six Corporate Social Responsibility (CSR) principles?

Profit maximization (correct)

Environmental protection

Fair labor policies

Truth in advertising

What is the term used for the unauthorized trading of securities by individuals with access to non-public information?

Insider trading Signup and view all the answers

Which of the following is NOT a form of business ownership mentioned in the text?

Limited liability company (LLC) Signup and view all the answers

What is the term used for a situation where a company moves some of its operations to another country to take advantage of lower costs?

Offshoring Signup and view all the answers

Chapter 1: Revenue, Expenses, Factors of Production, Supply and Demand Quiz

Choose a study mode

Podcast

Questions and Answers

What is the formula for calculating revenue?

Which of the following is NOT a factor of production or economic resource?

Which principle is NOT part of the six Corporate Social Responsibility (CSR) principles?

What is the term used for the unauthorized trading of securities by individuals with access to non-public information?

Which of the following is NOT a form of business ownership mentioned in the text?

What is the term used for a situation where a company moves some of its operations to another country to take advantage of lower costs?

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