Economic Principles Quiz

Whether to produce single use consumer goods or durable consumer goods (correct)

Whether to invest in stocks or bonds

Whether to expand internationally or focus on local markets

Whether to outsource production or keep it in-house

How to expand the consumer base

How to reduce production costs

What to produce and how much to produce (correct)

How to market products effectively

How to negotiate with suppliers for better prices

How to advertise products effectively

How to allocate resources and choose the right technique of production (correct)

How to manage human resources within the organization

<p>Using more labor and less machines</p> Signup and view all the answers

<p>Using more machines and less labor</p> Signup and view all the answers