PM2 Business Economics And Marketing at Universität Zu Köln | Flashcards & Summaries

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Lernmaterialien für PM2 Business Economics and Marketing an der Universität zu Köln

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TESTE DEIN WISSEN
Which of the following factors best explains the problem of increased pollution in countries?
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TESTE DEIN WISSEN
Incomes per head have risen too fast in developed countries
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TESTE DEIN WISSEN
Which of the following is a correct definition of an externality?
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TESTE DEIN WISSEN
An externality refers to the cost of buying a component or part required in the manufacture of a good from an independent supplier rather than making the product itself
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TESTE DEIN WISSEN
How do you calculate total revenue?
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TESTE DEIN WISSEN
price of the good x quantity of the good sold
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TESTE DEIN WISSEN
What are the two types of economies of scale?
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TESTE DEIN WISSEN
External: factors that lower cost like transportation technology, skilled labour or close training facilities.

Internal: effect that occurs when a company grows and thereby can produce more, buy resources in bulk, access more capital etc.
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TESTE DEIN WISSEN
Before the outbreak of the corona virus, the equilibrium market price of one medical mask was 10€, after the outbreak the price went up to 200€. What happened in the market?
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TESTE DEIN WISSEN
Supply of masks decreased sharply.
Lösung ausblenden
TESTE DEIN WISSEN
How are fixed cost and variable cost affected in the short run and long run?
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TESTE DEIN WISSEN
fixed costs cannot be changed in the short run 
variable cost can be altered in the long run
Lösung ausblenden
TESTE DEIN WISSEN
Which of the following is a definition of a total fixed costs?
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TESTE DEIN WISSEN
The cost of producing one extra unit of output
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TESTE DEIN WISSEN
Economic growth is measured by…
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TESTE DEIN WISSEN
The level of government spending
Lösung ausblenden
TESTE DEIN WISSEN
Goods with close substitutes (e.g. butter and spread) tend to have a more…
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TESTE DEIN WISSEN
elastic demand
Lösung ausblenden
TESTE DEIN WISSEN
How do you calculate the total cost?
Lösung anzeigen
TESTE DEIN WISSEN
add up all input cost
Lösung ausblenden
TESTE DEIN WISSEN
What determines cost and revenue?
Lösung anzeigen
TESTE DEIN WISSEN
land: crops, animal maintenance
labour: employees
capital: tools and equipment
Lösung ausblenden
TESTE DEIN WISSEN
What are economies of scale?
Lösung anzeigen
TESTE DEIN WISSEN
advantages reaped by companies when production becomes more efficient (increasing production lowers cost because cost is spread over a larger number of goods)
Lösung ausblenden
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Q:
Which of the following factors best explains the problem of increased pollution in countries?
A:
Incomes per head have risen too fast in developed countries
Q:
Which of the following is a correct definition of an externality?
A:
An externality refers to the cost of buying a component or part required in the manufacture of a good from an independent supplier rather than making the product itself
Q:
How do you calculate total revenue?
A:
price of the good x quantity of the good sold
Q:
What are the two types of economies of scale?
A:
External: factors that lower cost like transportation technology, skilled labour or close training facilities.

Internal: effect that occurs when a company grows and thereby can produce more, buy resources in bulk, access more capital etc.
Q:
Before the outbreak of the corona virus, the equilibrium market price of one medical mask was 10€, after the outbreak the price went up to 200€. What happened in the market?
A:
Supply of masks decreased sharply.
Mehr Karteikarten anzeigen
Q:
How are fixed cost and variable cost affected in the short run and long run?
A:
fixed costs cannot be changed in the short run 
variable cost can be altered in the long run
Q:
Which of the following is a definition of a total fixed costs?
A:
The cost of producing one extra unit of output
Q:
Economic growth is measured by…
A:
The level of government spending
Q:
Goods with close substitutes (e.g. butter and spread) tend to have a more…
A:
elastic demand
Q:
How do you calculate the total cost?
A:
add up all input cost
Q:
What determines cost and revenue?
A:
land: crops, animal maintenance
labour: employees
capital: tools and equipment
Q:
What are economies of scale?
A:
advantages reaped by companies when production becomes more efficient (increasing production lowers cost because cost is spread over a larger number of goods)
PM2 Business Economics and Marketing

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Für deinen Studiengang PM2 Business Economics and Marketing an der Universität zu Köln gibt es bereits viele Kurse, die von deinen Kommilitonen auf StudySmarter erstellt wurden. Karteikarten, Zusammenfassungen, Altklausuren, Übungsaufgaben und mehr warten auf dich!

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