exeCh1.docx

1、exeCh1Additional Exercise for Chapter 11. When you are involved in a social process that involves the assembly and use of _ to create goods and services capable of satisfying social needs and wants, what you are doing is _. A) productive resources . business B) basic outputs . economics C) productiv

2、e process . management D) capital . control 2. Which of the following is NOT included in the concept of capital? A) distributing facilities B) services C) tools D) transportation3. The return that business owners receive for assembling the basic inputs and taking risks of business ownership is known

3、 as _. A) profit B) fringe benefits C) rent D) interest4. The way in which workers are allowed to focus all their efforts on one specific work rather than on several tasks is known as _. A) mass production B) specification C) specialization D) automation5. The most important trend of the 1980s in U.

4、S. business world is _, particularly in the form of hostile takeovers. A) mergers B) labor unions C) computerization D) consumer preference6. Which of the following is not the major economic goal of the U.S.? A) economic freedom B) economic growth C) utility maximization D) price stability7. Industr

5、ial in which a few firms produce most or all of the output of a product and in which large capital requirements or other factors keep out many firms are _ . A) oligopolies B) monopolistic competition C) socialism D) communism8. Economic growth is often indicated by all of the following factors EXCEP

6、T_. A) gross national product B) price stability C) national income D) personal income9. To be exactly, price stability is mainly measured by _. A) consumer price index B) inflation C) stagflation D) purchasing power10. To know how well an economic system is performed, which of the following factors

7、 neednt to be taken into consideration ? A) GNP B) Leading economic indicators C) Standard of living D) Unemployment rate11. Which of the following is defined as a measure of output per unit of time per worker? A) productivity B) efficiency C) accountability D) effectiveness12. The market structure

8、characterized by barriers to entry is defined as _. A) perfect competition B) pure monopoly C) oligopoly D) monopolistic competition13. If a government owns the communications, transportation, utilities industries, and some of the natural-resource industries while most other activities is carried on

9、 by private enterprises, the economic system of the country is that of _. A) socialism B) communism C) capitalism D) mixed economy14. Which of the following is wrong about the understanding of the term business?A) Business makes use of four productive resources.B) Business involves in providing good

10、s and services needed or desired by people.C) A healthy business world provides more income and a lower standard of living for all people.D) The outputs of business activities can be either tangible or intangible.15. The consequences of the Industrial Revolution include all of the following except _

11、. A) mass production B) specialization C) automation D) assembly line16. Consumers always try to _ satisfaction by choosing among the things that please them most. A) maximize B) minimize C) reduce D) appropriate17. _ is the personal income minus personal taxes. A) investment income B) money income

12、C) personal income D) disposable income18. A general upward movement of prices or downward movement of purchasing power is _. A) inflation B) boom C) prosperity D) depreciation19. In the 1970s and very early 1980s, the U.S. economy experienced _. A) stagflation B) full employment C) industrial revol

13、ution D) merger era20. _ are legal entities established by the laws as artificial being, invisible, intangible, and existing only in contemplation of the law. A) Partnerships B) Sole proprietorships C) Corporations D) Joint Ventures21. If the merging companies perform essentially the same functions

14、in the same industry, the merger is called a _. A) horizontal merger B) vertical merger C) conglomerate D) takeover22. _ are the joining together of two firms in which one of them (usually the larger ) takes over the other, causing it to lose its identity. A) takeovers B) mergers C) Business Combina

15、tions D) acquisitions23. Which of the following does not belong to the advantages of corporations?A) Owners of corporations arent required to pay income taxes on the profits of their activities.B) The corporation is a legal entity that exists separate from its owners.C) Transfer of ownership doesnt

16、terminate the corporation.D). The life of corporations is unlimited.24. The merger of Coca-Cola and Columbia Pictures is an example of_ A) conglomerate B) combination C) hostile takeover D) shortgun merger25. Ease of transferability of ownership is one of the advantages of _ A) sole proprietorships

17、B) corporation C) partnership D) cooperative26. The major purpose of cooperatives is _.A) for maximum possible profitsB) to generate sufficient revenues for the ownersC) to satisfy the customers needs to the possible extentD) to achieve mutual benefits27. Public involvement in quasi-public corporati

18、ons usually derives from some aspects of the business that is _. A) unappealing to private investorsB) appealing to private investorsC) substantial capital requirements that would be forthcoming immediately and easily.D) risks concerned.Additional WordsAccelerator principle 加速原理Aggregate demand 总需求A

19、ggregate demand (AD) curve 总需求曲线Aggregate supply 总供给Aggregate supply (AS) curve 总供给曲线Demand curve (or demand schedule) 需求曲线(或需求表)Price-elasticity of demand 需求的价格弹性Price-elasticity of supply 供给的价格弹性Income elasticity of demand 需求的收入弹性Resource allocation资源配置Allocative efficiency 配置效率Average propensity

20、to consume 平均消费倾向Average revenue 平均收益Barriers to entry 进入壁垒Break-even point (in macroeconomics) （宏观经济学中的）收支相抵点Zero-profit-point 零利润点Business cycles 商业周期Coase theorem 科斯定理Collusive oligopoly 寡头勾结垄断Competitive equilibrium 竞争均衡Competitive market 竞争性市场Complements 互补品Constant returns to scale 规模报酬不变Decre

21、asing returns to scale 规模报酬递减Consumer surplus 消费者剩余Crowding-out hypothesis 挤出(效应)假说Diminishing marginal utility，law of 边际效用递减规律Economies of scale 规模经济External diseconomies 外部不经济External economies 外部经济Externalities 外部性Game theory 博弈论General equilibrium analysis 一般均衡分析Partial equilibrium analysis 局部均衡

22、分析Indifference curve 无差异曲线Indifference map 无差异曲线图Infant industry 幼稚产业Intellectual property rights 知识产权Invisible hand 看不见的手Labor supply 劳动供给Labor theory of value 劳动价值论Marginal principle 边际原则Marginal propensity of consume (MPC) 边际消费倾向Marginal revenue (MR) 边际收益Marginal utility (MU) 边际效用Market failure 市

23、场失灵Opportunity cost 机会成本Pareto efficiency (or Pareto optimality) 帕累托效率(或帕累托最优)Phillips curve 菲利普斯曲线Returns to scale 规模收益Substitution rule 替代原则Welfare economics 福利经济学Key to ExercisesExe. 11. factors of production; basic outputs2. factor markets, output3. Economics; profit maximization4. sole propriet

24、orships, partnerships, corporations; quasi-public corporations, cooperatives5. general partnerships, limited partnerships, joint ventures6. law of demand; law of supply7. economic growth, full employment, price stability8. horizontal merger, vertical merger, conglomerateExe. 21. 周期性失业2. 主要经济指标3. 景气指

25、数4. 管理技术5. 物价总体水平6. 垄断性竞争7. 零售业8. 生产资料，资本货物9. 成本推动型通货膨胀10. 计划经济11. full employment12. structural unemployment13. profit maximization14. grocery market15. quasi-public corporation16. gross national product17. horizontal merger18. proprietor income19. stagflation20. purchasing powerExe. 31. Profit max

26、imization is the basic goal of all corporations and businesses. Failure to do this will result in the failure to achieve other objectives.2. As a kind of business organization, the advantages of listed companies rest in their ease of obtaining additional capital, stability of existence and limited l

27、iability in case of bankruptcy. Small businesses can be found in agriculture, services, wholesale and retail trade, manufacturing and construction, with sole proprietorships and partnerships as their basic forms of organization.3. Economics can be divided into macroeconomics and microeconomics, main

28、ly studying how people use scarce resources to produce and distribute goods and services.Exe. 41. 经济增长可以用国民生产总值、国民收入、个人收入和个人可支配收入等衡量。国民生产总值指一年内创造的所有商品和服务的货币价值。用国民收入衡量经济活动，是把工资、薪水、租金、利息、公司以及非公司制企业的账面利润加总而得。个人收入指家庭所获得的总收入。个人可支配收入是个人收入减去个人所得税后的余额。2. 独资企业的优点有：成立容易、成本低，业主享有所有利润，业主可以直接控制企业，受政府管制少，不需交纳企业税，解散容易。缺点有：业主对债务承担无限责任，筹资困难，缺少管理技术，企业的存在不稳定，难以吸引优秀人才，业主个人要承受所有损失。3. 公司创立者指组织成立公司的人。股东即业主。他们可以获得股息，并可以在任何时候出售或转让所拥有的股份。他们有权参加公司的年会，选举董事会。董事会是公司的权力机构。公司高管是公司的高级雇员，他们负责公司的日常经营活动。