№ Question Answer 1 Answer 2 Answer 3 Answer 4 Right

1 Lean manufacturing …. in this process stock is only a system that aims to continually making Unsuccessful answer2
ordered when it is needed – not produce more, using less. small improvements company
before The removal of waste which lead to greater
effectiveness and
higher quality

2 I need to repay my student loan so I ……to find a job buy want send search 2
find a job before the end of the year, when my course
finishes.
3 CV……… A summary of education and Knowledge skill that is A written form of A person who 1
employment experience (or gained through time spent asking for a job answers the questions
European resume). doing a job during the interview

4 Find the correct column with countable nouns Money, customer, phone call, Customer, news, research, Overtime, research , Company, customer, 4
information employee phone call , money helpline, employee

5 Human resources wants us to reduce our lead count: many employees much overtime a lot , research much progress 1
How…. …. Are there currently in this department?

6 Find the correct column with uncountable nouns Company, news Money, information Research, customer Employee, progress 2
7 Complete the sentence with suitable attitude words: … obviously actually quite honestly presumably 2
all of us have problems
8 You don’t seem to be having … fun these days most of little very much a lot 1
9 The woman with red hair turned and … me. glanced laughed noticed smiled 4
10 In 1999, more information was being sent … email by by a by an by the 1

11 When did stocks Trading Start in the United States? Around 25 Years Ago Around 50 Years Ago Around 75 Years Ago Around 200 Years 4
Ago
12 When was the New York Stock Exchange created? 1992 1702 1863 1792 4

13 What is NYSE? New York Saturday Exchange New York Stock New York Store 1and 2 2
Exchange Exchange
14 What are Stock Ticker Symbols? How Stocks go Up & Down Identification tag for a Little Tickers Seen On All of Above 2
Stock Exchange
15 Stockholder is another name for Sharemember Shareholder Sharebuilder None of the Above 2
16 What is Stock Fundlemental Analysis? Evaluating A Companies Balance Evaluating A Companies Evaluating A 2 and 3 1
Sheets Operating Hours Companies Balance
Attack
17 What is AMEX? American Stock Exchange Capital American Mobile Stock American Merchant American Mirror 1
Exchange Stock Exchange Stock Exchange
18 What is a company Annual report? Financial Statement issued by a Financial Statement issued Financial Statement None of the Above 3
Capitalist by China issued by a
Corporation
19 What is a Bear Market? A Declining Asset A Declining Market A Declining savings 2 and 3 2
bond
20 How many companies make up Dow Jones Industrial 10 Companies 20 Companies 30 Companies 50 Companies 3
Average?
21 What company has the following MSFT ticker Merck McDonalds Microsoft None of the above 3
symbol?
22 It is the amount of a particular economic good or Supply Demand Aggregate 2
service that a consumer or group of consumers will
want to purchase at a given price?
23 I hope I... my test before the bell... do/rings shall do/had rung shall have done/rings have done/will ring 3
24 What is Economics? The study of how people try to employment, gross deals with behavior A rise in the general 1
satisfy what appears to be domestic product, and decision making level of prices occurs,
seemingly unlimited and inflation, economic by small units, such as workers need more
competing wants through the growth, and the individuals and firms money to pay for good
careful use of relatively scarce distribution of income clothing and shelter
resource

25 What is Scarcity? Giving something up to have extra cost of producing The condition that A rise in the general 3
something else one additional unit of results from society level of prices occurs,
production not having enough workers need more
resources to produce money to pay for good
all the things people clothing and shelter
would like to have

26 What are the three basic economic questions? What, where, whom What, how, whom How, whom, when What, why, whom 2
27 What are the four factors of production? Land, capital, money, Land, capital, labor, Capital, money, Labor, capital, supply, 2
entrepreneurs entrepreneurs supply, demand demand
28 Definition of Land? Anything from the earth The space we occupy Gifts of nature All of the above 3
29 Definition of Capital? the tools, equipment used in the the machinery, and the tools, and 2 and 3 4
production of goods factories used in the machinery used in the
production of goods production of goods

30 Definition of Labor? people with all of the efforts, the people who are for people with all of the the act of performing 1
abilities, and skills hire for work workmanship, skills, work at any given time
and work
31 Definition of Entrepreneur? A risk taker in search of profits A investor in search of A investor in search of A risk taker in search 4
who's initila investment must be profits who does profits who's initial of profits who does
returned something new with investment must be something new with
existing resources returned existing resources

32 What are the many payments for the factors of Land - wages, labor - interest, Land - rent, labor - wages, Land - profit, labor - Land - interest, labor - 2
productions called? capital - rent, entrepreneurs - capital - interest, rent, capital - wages, rent, capital - profit,
profit entrepreneurs - profit entrepreneurs - interest entrepreneurs - wages

33 What is opportunity cost? The cost assosiated with any Giving the cost in order to Giving something up 3
opportunity have the opportunity to have something else

34 What is PPF? Possible Production Frontier Production Possibilities Probable Projection Projected Possibilities 2
Frontier Frontier Frontier
35 What do the points along the frontier represent? Maximum combination of output Minimum combination of Maximum 1
if all resources are fully employed output if all resources are combination of input if
fully employed all resources are fully
employed

36 On the PPF how can a nation achieve growth? By having more resources or By having an increase in By having less By having an increase 1
increased productivity supply and demand resources or declined in resources and
productivity decrease in
productivity
37 What does a point inside the curve on a PPF Production at greater than its Production as less than its Production at greater Production as less than 4
represent? minimum potential minimum potential than its maximum its maximum potential
potential
38 What is the classic example of a PPF? A mythical country called omega A mythical country called A mythical country A mythical country 4
producing two goods, guns:butter alpha producing two called omega called alpha producing
goods, bread:butter producing two goods, two goods, guns:butter
bread:butter

39 What is the circular flow model? A model which shows the wealth A model which shows the A model that shows A model that shows 1
that an economy generates wealth that the world the recirculation of the debt that an
generates money in an economy economy generates

40 What are the functions of the entrepreneur? They provide the money They provide the They provide the They provide the drive 3
necessary for the resources of procedures that combines initiative that necessary for the
land, labor, and capital the resources of land, combines the resources resources of land,
labor, and capital into new of land, labor, and labor, and capital
products capital into new
products

41 Name three types of businesses Traditional, command, market Command, market, Traditional, market, Command, traditional, 1
competitive competitive competitive

42 Name the types of businesses Proprietorship, corporation, Partnership, industrial, Corporation, Proprietorship, 4
industrial commercial proprietorship, partnership,
commercial corporation
43 Define paradox of value? Apparent contradiction between Apparent agreement about Apparent agreement Apparent agreement Apparen
the low value of nonessentials and the nonessentials being about the nonessentials about the t
high value of essentials less needed and the being less needed and nonessentials being agreeme
essentials being greatly the essentials being greatly needed and the nt about
needed greatly needed essetials being less the
needed nonesse
ntials
being
greatly
needed
and the
essetials
being
less
needed

44 What is the classic example of paradox of value? Water in great excess being worth Water in scarce excess Water in great excess Water in scarce excess 1
less than diamonds in scarce being worth more than being worth more than being worth less than
excess being worth more diamonds in great excess diamonds in scarce diamonds in great
being worth less excess being worth excess being worth
less more

45 What are the goals of the American Free Enterprise? Economic freedom, voluntary Economic freedom, lack .Economic freedom, Economic freedom, 1
exchange, private property rights, on monopolies, private voluntary exchange, voluntary exchange,
profit motive, and competition property rights, profit prevailence of rights, private property rights,
motive, and competition profit motive, and profit margain
competition reduction, and
competition
46 What is the law of demand? Rule stating that the quantity Rule stating that the Rule stating that the Rule stating that the 4
demanded of a good or service quantity demanded of a quantity demanded of quantity demanded of
does not vary with its availability good or service does not a good or service a good or service
vary with its price varies inversely with varies inversely with
its availability its price

47 What causes the demand curve to shift? The increase/decrease in need The increase/decrease in The increase/decrease The increase/decrease 3
volume in price in production

48 What causes the increase in supply? The increase/decrease in demand The increase/decrease in .The increase/decrease The increase/decrease 1
production in volume in price

49 What is equilibrium? A situation in which prices are A situation in which A situation in which A situation in which 3
very unstable prices are very unreliable prices are relatively prices always fluctuate
stable

50 What is Shortage? A situation in which the quantity A situation in which the A situation in which A situation in which 1
demanded is greater than the quantity demanded is less the quantity demanded the quantity demanded
quantity supplied at a given price than the quantity supplied is not offered by the can not meet the
at a given price manufacturer supply provided

51 What is Surplus? A situation in which the quantity A situation in which the A situation in which A situation in which 4
supplied is not met by the quantity demanded is the quantity supplied is the quantity supplied
manufacturer greater than the quantity less than the quantity is greater than the
demanded at a given price demanded at a given quantity demanded at
price a given price

52 What is a price ceiling? A minimum legal price in order to A maximum legal price in A maximum legal A minimum legal 3
maintain agreement order to maintain price that can be price that can be
agreement charged for a product charged for a product

53 What is a price floor? Highest legal price that can be Lowest legal price that Highest legal price that Lowest legal price that 2
paid for a good or service can be paid for a good or can be charged in can be charged in
service order to maintain order to maintain
agreement agreement

54 What is elastic? when a given change in price when a given change in when a given change when a given change 1
causes a relatively larger change quantity demanded causes in price causes a in quantity demanded
in quantity demanded a relatively larger change relatively smaller causes a relatively
in price change in quantity smaller change in
demanded price

55 What is inelastic? when a given change in quantity when a given change in when a given change when a given change 3
demanded causes a relatively price causes a relatively in price causes a in quantity demanded
smaller change in price larger change in the relatively smaller causes a relatively
quantity demanded change in the quantity larger change in price
demanded
56 What is unit elastic? If change in quantity demanded If change in price does not If change in price If change in quantity 3
causes a proportional change in cause a proportional causes a proportional demanded does not
price change in quantity change in quantity cause a proportional
demanded demanded change in price

57 If prices and revenue move in opposite directions increased decreased unit elastic unit inelastic 3
demand is?
58 What is microeconomics? The area of economics that deals The area of economics The branch of The branch of 1
with the behavior and decision that deals with the economics that deals economics that deals
making by small units behavior and decision of with the economy as a with the monetary
the whole world whole value

59 What is macroeconomics? The branch of economics that The area of economics The branch of The are of economics 3
deals with the monetary value that deals with behavior economics that deals that deals with the
and decision making by with the economy as a behavior and decision
small units whole making of your
personal life

60 What is a collusion? A formal agreement to set prices An agreement to have a An informal agreement A disagreement upon 1
or to otherwise behave in a meeting discussing prices to set prices or to having a meeting
cooperative manner otherwise behave in a discussing prices
uncooperative manner

61 What are the three functions of money? Measure of value, store of value, Medium of exchange, Measure of value, Medium of exchange, 2
and direction of value measure of value, and medium of exchange, store of value,
store or value and compliance of direction of value
value

62 What are the characteristics of money? Durability, divisibility, limited Divisibility, durability, Limited availability, Portablility, durability, 4
availability, countability portability, countability portability, durability, divisibility, limited
countability availability

63 What is commodity money? Money that has a primary value in Money that has been Money that has an Money that has an 3
being a commodity borrowed from the bank alternative use as an alternative use as a
as a loan economic good, or external way of paying
commodity for goods or services

64 What is the FED The central bank The federal bank The commision bank The world bank 1

65 What is the FOMC? Federal Opinion Money Federal Open Minded Federal Open Market Federal Option Money 3
Committee Committee Committee Committee
66 What are the three tools of the FED? open market operations, discount open market operations, closed market closed market 1
rate, and reserve requirement increased rate, and reserve operations, increased operations, discount
requirement rate, and reserve rate, and reserve
requirement requirement
67 What is inflation? A rise in the general level of A fall in the general level A fall in the general A rise in the general 4
prices occurs, workers need less of prices occurs, workers level of prices occurs, level of prices occurs,
money to pay for goods, clothing need more money to pay workers need less workers need more
and shelter for goods, clothing, and money to pay for money to pay for
shelter goods, clothing and goods, clothing, and
shelter shelter

68 What is recession? A period during which real GDP A period during which A period during which A period during which 3
increases for 2 quarters in a row, real GDP declinces for 6 real GDP declines for real GDP increases for
or 6 consecutive months quarters in a row, or 2 2 quarters in a row, or 6 quarters in a row, or
consecutive months 6 consecutive months 2 consecutive months

69 What is "easy money"? The FEW stops the money supply The FED allows the The FED stops the The FED allows the 2
from growing and the interest money supply to grow and money supply from money supply to
rates to fall, which normally the interest rates to fall, growing and the grown and the interest
deprives the economy which normally stimulates interest rates to grow, rates to grow, which
the economy which normally normally deprives the
stimulates the economy
economy

70 What is "tight money" policy? The FED restricts the growth of The FED allows the The FED restricts the The FED allows the 1
the money supply, which drives growth of the money growth of the money growth of the money
interest rates up supply, which drives the supply, which drives supply, which drives
interest rates down the interest rates down the interest rates up

71 What is a business cycle? small systematic ups and downs small inverse ups and small inverse ups and largely inverse ups and 3
of real GDP downs of real GDP downs of real GDP downs of real GDP

72 What are the 4 stages of a business cycle? Peak, trough, expansion, recovery Recession, peak, trough, Recession, peak, Peak, recession, 2
expansion trough, recovery recovery, expansion
73 Name the three types of taxes? Proportional, proposed, regressive Regressive, proportional, Regressive, retaining, Progressive, 4
probable proposed proportional,
regressive
74 What are the two principles of taxation? Ability-to-pay, determination Benefit, ability-to-pay Profit, productivity Projection, benefit 2
75 What is personal income tax? the total amount of income going the total amount of a portion of the a portion of the 1
to consumers before individual income going to amount of income amount of income
income taxes are subtracted consumers after individual going to consumers going to comsumers
income taxes are after individual taxes befoe individual taxes
subtracted are subtracted are subtracted

76 What is disposable income? a portion of income the consumer the total income the the total income the a portion of income 3
sector has at its disposal after consumer sector has at its consumer sector has at the consumer sector
personal income taxes disposal before personal its disposal after has at its disposal
income taxes personal income taxes before personal
income taxes

77 Who is Adam Smith? .A german economist A sweedish economist A scottish economist A english economist 3

78 What does the word "Laissez Faire" mean? the philosophy that government the law stating that the the philosophy that the law stating that the 1
should not interfere with business government can at any individuals should not government cannot at
activity time interfere with a interfere with any time interfere with
businesses activity government activity a businesses activity
79 What is the law of variable proportions? States that in the long run, input States that in the short run, .States that in the short States that in the long 3
will change as one output varies input will change as one run, output will change run, output will
while the others are held constant output varies while the as one input varies change as one input
others are held constant while the others are varies while the others
held constant are held constant

80 What is the civilian labor workforce? Men and women 16 years old and Men and women 18 years Men and women 18 Men and women 16 4
over who are not working or old and over who are years old and over who years old and over
cannot get a job either working or actively are not working or who are either
looking for a job cannot get a job working or actively
looking for a job

81 Who is excluded from the civilian labor workforce? government officials, prison armed forces, prison government officials, prison population, 2
population, and armed forces population, and other institutionalized non-us citizens, and
institutionalized persons persons, and armed armed forces
forces

82 Define merger? a combination of two or more a combination of three or a combination of four a combination of 1
buisnesses to form a single firm more buisnesses to form a of more buisnesses to fшмуof more
single firm form a single firm buisnesses to form a
single firm

83 What is a horizontal merger? when two or more firms that when two or more firms when three or more when three of more 1
produce the same kind of product that produce a different firms that produce the firms that produce a
join kind of product join same kind of product different kind of
join product join

84 What is a vertical merger? when three or more firms when two or more firms when three or more when two or more 4
involved in the same steps of involved in the same steps firms involved in firms involved in
manufacturing or marketing join of manufacturing or different steps of different steps of
marketing join manufacturing or manufacturing or
marketing join marketing join

85 What does the word utility mean? ability of capacity of a good or lack of capability a good ability or capacity of a lack of capability a 3
service to be used in the or service might have to good or service to be good or service might
manufacturing of a product be used in the useful and give have to be useful and
manufacturing of a satisfaction to give satisfaction to
product someone someone

86 What is a fixed cost? Cost of production that changes Cost of purchasing that Cost of production that Cost of purchasing 3
when output changes does not change when does not change when that changes when
output changes output changes output changes

87 What is variable cost? Cost that varies as output changes Cost that does not vary as Cost that varies as Cost that does not vary 1
output changes production changes as output changes

88 What is total cost? variable plus fixed cost all cost associated with all cost except for the 1 and 2 4
production cost of manufacturing

89 What are marginal costs? extra cost of pruducing one additional cost associated cost above and beyond cost formed by excess 1
additional unit of production with lack of demand normal associated production
costs
90 What is the SEC? Securities and Exchange Safety and Exemption Security of Safety of Elephant 1
Commission Committee Environment Cocks
Commission
91 What is a durable good? any good that lasts three years or any good that last ten any good that lasts any good that lasts ten 1
more when used on a regular basis years or more when used three years or more years or more when
on a regular basis when not used not used
92 What is a non-durable good? any good that when used on a any good that when not any good that when any good that when 3
regular basis lasts less than ten used lasts less than three used on a regular basis not used last less than
years years lasts less than three ten years
years

93 We _______ in London. live lives lived living 1

94 I am listening to my favourite CD _______. every day now every night tomorrow 2
95 Sandra and Peter ______ in the garden. is am are was 3
96 Andy didn't _______ to school yesterday. go went goes going 1
97 She ________ her grandparents yesterday visits is visiting visited was visit 3
98 They______ very happy. am are is 2

99 Jill ______ got brown hair. have has is are 2

100 Listen! The bird _______. is singing singing are singing was singing 1
101 Dad is singing. Listen to _______. him he his her 1
102 Economics may best be defined as a scientific study of supply and study of efforts to satisfy limited description of branch of sociology 2
demand seemingly unlimited economic activities
wants with scarce
resources

103 A basic requirement for survival is a(n) need want opportunity cost paradox of value 1
104 The purchase and use of goods and services to impress trade-offs factor markets conspicuous circular flow of 3
others is called consumption money
105 Productivity goes up whenever more resources are discovered the same output is there is a movement a product gains 2
produced with fewer along the production additional utility
inputs possibilities frontier
106 Division of labor is a characteristic of home craft businesses skilled artisans assembly line entrepreneurship 3
production
107 To arrive at an economic decision, a decision-making only capital goods productivity only durable goods only capital goods 1
grid may be used to evaluate
108 The production possibilities frontier can be used to total output when all resources are trade-offs opportunity costs of specialization and the 4
illustrate all of the following EXCEPT fully employed unemployment division of labor
109 Manufactured goods needed to produce other goods nondurable goods payroll expenses capital goods consumer goods 3
and services are called
110 For a consumer, the most important reason for a durability color entertainment value utility 4
purchase is its
111 .A popular model used to illustrate the concept of the production possibilities laissez-faire entrepreneurship factors of production 1
opportunity cost is called frontier
112 Land, labor, capital, and entrepreneurship are the results of supply and demand basis of employment result of production factors of production 4

113 An economy at its production possibility frontier is with minimum growth at full potential on quota-filling with high 2
operating production unemployment
114 A risk-taker in search of profits is called a(n) entrepreneur capitalist economist consumer goods 1
115 Durable goods intended for final use by individuals heavy equipment payroll expenses capital goods consumer goods 4
are called
116 A great variety of goods and services is characteristic a traditional economy a market economy a command economy all economic systems 2
of
117 The American economic system can be described as command economy quota system traditional system market economy 4
having a
118 The concept of voluntary exchange means that no money was exchanged using the barter system that people freely and that only workers will 3
willingly engage in benefit from a
market transactions transaction

119 Choices in a command economy are made by private business assembly line workers competition government agencies 4

120 Which group of people ultimately determines the Congress property owners consumers local officials 3
products that a free enterprise economy produces?

121 Both parties to a transaction benefit according to voluntary exchange consumer sovereignty fixed income command economy 1
122 North Korea is an example of capitalism a command economy . a market economy free enterprise 2

123 An economic system is successful when it creates a large number of wealthy maintains normal controls government satisfies the needs of 4
people unemployment levels agencies its people
124 An entrepreneur would most likely have the best a command economy a market economy a traditional economy any of the economies 2
chance for success in
125 . Changes in a market economy tend to be revolutionary prohibited gradual discouraged 3
126 . The most common form of business organization in sole proprietorship corporation cooperative partnership 1
the United States is the
127 In a limited partnership one partner is not active in the both partners share the neither partner is all partners are 1
daily operations work load responsible to the other responsible to a
corporation
128 The price paid to use another's money is called Dividends Interest principal stocks 2
129 An advantage of a merger between two companies is improved production and establishing a legal increasing cost establishing a 1
efficiency monopoly voluntary transaction

130 One weakness of the sole proprietorship is that the owner has no control business depends solely owner has too many business is in constant 2
on the owner partners danger of bankruptcy

131 The owner of shares in a corporation is a proprietor stockholder partner manager 2

132 A sole proprietor does not have to pay a separate is exempt from paying any must rely on has partners in the 1
business tax taxes government subsidies business

133 One advantage enjoyed by a corporation is unlimited liability ease of management unlimited life ease of obtaining a 3
charter
134 When firms involved in different steps of multinational merger horizontal merger conglomeration vertical merger 4
manufacturing or marketing merge, the result is a
135 As a consumer, if the price of apples doubles and your types buy buy the same number of buy fewer apples buy more 3
salary remains the same, you would probably more apples apples complementary good

136 If the price of a product decreases and consumers buy a change in demand has taken a change in quantity the product is a there has been an 2
more of the product, place demanded has taken place complementary increase in demand
product
137 An entrepreneur who sells lawn mowers might decide inner city suburbs financial district rural areas 2
that the best business location would be in the

138 The statement "the demand for an economic product the Law of Demand laissez-faire the Law of the Law of Supply and 1
varies inversely with its price" is a definition of Competition Demand
139 Because the demand for local telephone service is modest price increases have little the government cannot tax consumers should the number of 1
relatively inelastic, or no impact on quantity telephone rates make as few long- telephones in the home
demanded distance calls as has increased.
possible

140 The law of downward sloping demand indicates that consumer demand has increased consumer demand has not . consumer demand consumers demand 4
significantly changed significantly has dropped more at lower prices
drastically.
141 A business raised the price of a product to increase elastic inelastic unit elastic unable to be 1
profits, but found that total revenues went down. The determined due to lack
demand for the product is of information
142 If the increase in the price of butter causes a decrease the marginal utility for additional the two goods are the demand for pastries the two goods are 4
in demand for French pastries, pastries is diminishing substitutes is inelastic complements

143 A consumer is less likely to buy more and more units diminishing marginal utility demand elasticity the substitution effect the existence of 1
of a product at the same price because of complementary goods

144 When a department store lowers the price of a product diminishing marginal utility the Law of Demand. the demand curve for an inelastic demand 2
during a sale, it is counting on the product to shift to for the product
the right
145 A business that sells office supplies might have the the suburbs rural areas urban areas farming communities 3
greatest chance of success in
146 The Law of Demand states that the relative change in price is the demand for an . consumers select . the relationship 2
caused by changes in demand economic product varies alternative ways of between changing
inversely with its price spending income prices and total
receipts is a direct one

147 The basic decision for a supplier is how much to produce without the amount to offer for the willingness of the ability of 2
regard to demand sale at various prices consumers to purchase consumers to purchase

148 Demand is based on consumer purchase, whereas the ability to purchase the willingness to producers offering offering a wide range 3
supply is based on purchase products for sale of prices.
149 If the price of a product falls, producers will generally offer less for sale increase input offer more for sale hold a clearance sale 1

150 . The supply curve is the mirror image of the Law of Supply production estimates supply elasticities the demand curve 4
151 In a market economy, the producer has no control of production levels. always followed the freedom to adjust to fulfill government 3
traditional methods of production quotas of production
production
152 Depreciation is the purchasing of new equipment cost of shipping goods gradual wear and tear variable cost of labor 3
on capital goods
153 Consumer purchases determine demand, whereas a wide range of prices a willingness to purchase the ability to purchase producers offering 4
supply is determined by products for sale
154 The quantity supplied increases when the cost of inputs goes down. taxes go down additional firms enter the price of the 4
the industry product goes up
155 The demand curve is the mirror image of the Law of Supply. production estimates supply elasticities the supply curve 4
156 Prices serve as a link between producers and natural resources the factors of production government consumers 4

157 This holiday is worth.... celebrates celebrated celebrating have celebrated 3

158 We knew nothing of his... a student. being be to have been to be 1
159 This article is worth.... reading read to read has read 1
160 They seldom go out. They are at home……… every time each time all time all the time 4
161 We watched the coastline ... slowly. recede to recede recedes have receded 1
162 He sat in the arm-chair... a newspaper read reads reading had read 3
163 Where did you find this … pen? break broken breaking broke 2
164 It's very pleasant... on the beach in summer Be to be been is 2
165 ... English is the best way of ... it. Speak/learn Speaking/learning To speak/to learn Spoke/learning 2
166 She has nobody ... to. talked to talk talk talks 2
167 She dreams of her son's ... a director of the company becoming is becoming become became 1

168 He warned himself by ... hot tea drinking drank drunk to drink 1
169 Some of Umid’s friends were discussing the shortness long enough enough tall too long a little long 1
of some people. "How long should a man's leg be?"
someone asked Mike. "Well" he said, "they should be
at least ... to reach the floor."

170 There are ... than eight hundred... in Australia more/kinds of bird many/kind of birds more/kind of birds least/types of birds 1
171 The answer was not... satisfactory satisfactorily satisfaction satisfied 1
172 She looked round... helplessly helpless more helpless most helpless 1
173 He goes to school ... regularly regular seriously perfectly 1
174 My opinion of this book is... from yours different happy comfortably differently 1
175 Do you ... wish to go there? seriously serious simply dangerously 1
176 The Trans-Siberian railway is ... in the world. the longest longest longer long 1
177 Iron is... of all metals the most useful useful more useful use fuller 1
178 Silver is... than copper heavier the heaviest heaviest heavy 1
179 Elbrus is... peak in the Caucasian mountains the highest higher high the higher 1
180 I think, you should be... keeping your eyes closed best much better the best the better 2

181 The woman raised her tightly clenched hands as... as higher high the high highest 2
her breast.
182 She felt... than she did all day much worse the worst as bad as worst 1
183 she studies … at her university. economy economic economical economics 4
184 .... you do your homework ... you go for a walk. soon/soon sooner/sooner the sooner/ soonest the sooner/the sooner 4

185 John drives the car..... such recklessly so recklessly so reckless such a reckless 2
186 His advice sounded ... . sincerely enough sincerely enough sincere sincere enough 4
187 I was to start my lesson. But I felt the words of my worse badly the worse the worst 2
lesson slipping off. We began badly and went on ...

188 John, who was very anxious to get the whole estate, the sooner/the better the soonest/best sooner/better as soon as/as well 1
reminded him that the house he stood in was no longer
his and that. .he left it....
189 He handed in his paper... as the topic was rather lately later than usual as usual usually better 2
difficult.
190 An advantage of a free market is that everyone has excess income the limited number of that food and housing that the market finds 4
alternative products are very inexpensive its own equilibrium

191 Price flexibility works to resolve the problems of microeconomics market economies surpluses and administrative costs 3
shortages
192 If a competitive market is at equilibrium, and if there a temporary shortage will occur a temporary surplus will a temporary shortage a temporary surplus 1
is a sudden increase in demand, then and the price will rise occur and the price will will occur and the will occur and the
fall price will fall price will rise
193 Price competition is a characteristic of a market economy traditional society command economy corporate state 1
194 At a given price, a surplus occurs when the quantity demanded is more the quantity demanded is the quantity supplied the quantity supplied 4
than the quantity supplied the same as the quantity is less than the is greater than the
supplied quantity demanded quantity demanded

195 Prices serve as a link between consumers and natural resources producers government the factors of 2
production
196 In a market economy, a low price is a signal for producers to supply more and producers and consumers producers to offer less government to step in 3
consumers to buy less to buy more and consumers to buy and protect producers
more
197 The problems of temporary market surpluses and microeconomics price supports price floors price flexibility 4
shortages can be solved through
198 What is the fundamental problem of economics? scarcity capital the factors of labor 1
production
199 Which of the following is NOT a capital good? a bulldozer at a construction site a cash register at a an oven at a bakery a television set for 4
clothing store sale at an appliance
store
200 Imagine you decide to purchase a soccer ball for the time spent deciding to spend something else you 35.00 in cash the time spent making 2
$35.00. Which of the following is an opportunity cost your money on a soccer ball wanted that could have the purchase and the
of your decision? been bought for $35.00 tax paid on the ball