8. Entrepreneurship and economic progress The term intrapreneurship refers to initiatives to discover new products or production methods by whom? O Employees within business firms or organizations O Owners of start-up firms O Any individual True or False: Economic models do not take the role of entrepreneurs into account because entrepreneurial discovery plays only a minor role in economic progress O false O True True or False: Business failures are always bad for the economy. O False

8. Entrepreneurship and economic progress The term intrapreneurship refers to initiatives to discover new products or production methods by whom? O Employees within business firms or organizations O Owners of start-up firms O Any individual True or False: Economic models do not take the role of entrepreneurs into account because entrepreneurial discovery plays only a minor role in economic progress O false O True True or False: Business failures are always bad for the economy. O False

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 1.2P

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QUESTION 20 Which af the fallawing is not an illustration of the notion of opportunity cost O A. The production of more military goods means fewer resources are available for civilian goods. O B. The land a Kansas farmer plants in wheat is not available for corn production. OCIFI buy a pizza, I will not be able to afford a mavie. O D.A growing economy can produce more consumer goods and mare capital goods at the same time. QUESTION 21 The diagram below shows the market for apples. Which of the following events might have caused the shift in the supply curve from S to S2 Pee OA. A sludy showing new health benelits af apples is published in the Washington Past O B. Orchad productivty increases due to a new fertiliser OC Orchard productivity decdines due to draught O D. None af the above QUESTION 22 When we study economics the objective is to learn: O A. how to allocate unlimited resources to satisly unlimited wants O B. how to allocate unlimited resources to satisfy limited uses O C. how…
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