In addition, there are the concepts of positive and normative economics, which determine the approach to the study of economic theory. In short, the difference between these concepts is that normative economics studies what should be, while positive economics studies what is.

Positive and normative economics study the phenomena that take place in the economy, value judgments of these phenomena, presuppose what they should be.

Let's take a closer look at positive economics. She deals with the actual state of affairs, studies the processes that are actually taking place, the real facts. Positive economic theory does not use value judgments, due to the fact that they are often erroneous and their use is not optimal. Experts believe that a positive economy cannot exist in its pure form.

Positive Economics is a special branch of economic analysis. M. Friedman was the first to propose using this approach, which explains how the economy functions and how to solve basic economic problems. When analyzing, positive economics uses a huge amount of statistical data, taking into account motivating factors, the existence of a monopoly in the market.

Positive economics can answer, for example, the question: “Why is production declining?” But it will not give recommendations as to how it should be, only an explanation of how and why this happens.

When analyzing the actions of companies to achieve maximum profits, positivist economists determine what methods the companies use to achieve profit maximization. Their reports should include information about what has already been achieved, what is happening now and what will happen.

Normative economics- this is the opposite of positive economics, this is reasoning about what should happen, what the economy should react to this or that process, what the economy as a whole should be. It is based on economic theory or on certain economic relations.

I Economics and economic science: basic concepts

1. Administrative command economy– one of the three pure types of macroeconomic systems. It is a hierarchically organized system, controlled from a compact center. The role of such a center is usually played by the highest government bodies. The dominant form of ownership is state ownership.

Advantages of the administrative-command economic system:

1) The ability to direct resources to solve problems chosen by society.

2) The ability to orient the economy towards achieving any goals chosen by society.

3) The ability to create any economic mechanisms. High level of economic controllability.

4) The ability to smooth out property inequality among the bulk of society.

5) Relative stability of the economy.

Negative aspects of an administrative-command economy:

1) The inability to collect and process in the control center all the information necessary for successful economic management in the absence of the right to make responsible decisions locally.

2) Inability to identify and satisfy the needs of an individual.

3) Dependence of the economy on the subjective qualities of the people in charge, the absence of automatic compensatory mechanisms in the economy.

An administrative-command economy is most effective when there are clearly defined priority national short- and medium-term tasks, such as winning the war, overcoming backwardness, natural and social shocks.

2. Good- a process, object or phenomenon that a person uses to satisfy his needs. The concept of “good” is absolutely subjective, since what makes an object, phenomenon, or process good is a person’s desire to use it to satisfy his needs.

3. Ownership- one of the powers of the “triad of property”, which includes possession, disposal, use. It is the assignment of an object of property to the owner, recognized by society, confirmed either by legal documents or traditional law.

4. "Earth"- 1. All relatively non-renewable resources of natural origin. 2. Objects of labor, i.e. natural resources that are converted into goods during the production process.

The concept of “irreproducible” is relative, because any natural resources can be restored through natural or artificial processes. Resources can be considered irreproducible if their reproduction time is much longer than the economic cycles during which they are consumed. “Land” should include land plots for various purposes, water, air, mineral deposits, natural human abilities, biological systems (forests, steppes, etc.), solar energy and other natural objects, phenomena, etc. used in production. P.

5. Capital– a multi-valued concept, interpreted differently by different branches of economic science. From the point of view of the classical theory of factors of production, the following interpretations of the concept of “capital” can be given. 1. Tools, devices of artificial origin, with the help of which natural resources (“land”) are converted into benefits. 2. Means of labor, i.e. everything with the help of which the production process is carried out. 3. Anything that allows you to increase labor productivity.

6. Macroeconomics– a branch of economic theory that studies large, complex independent economic systems (macroeconomic objects).

The independence of a macroeconomic system is determined by the fact that it contains a control center (if there is one), basic resources and the most important economic connections within itself.

The complexity of a macroeconomic system is determined by the presence of an internal economic structure, including simple elements, subsystems, levels, sublevels, and an extensive system of internal connections.

The most common type of macroeconomic system is the national economy. However, the concepts of “national economy” and “macroeconomic system” are not identical.

7. Mesoeconomics– a section of economic theory that studies subsystems, levels and sublevels of macroeconomic objects (mesoeconomic objects). Mesoeconomic objects include industries, economic regions, large diversified firms, etc.

8. Microeconomics– a section of economic theory that studies simple elements of economic systems (microeconomic objects). Microeconomic objects do not have an internal economic structure, although an internal structure of a different kind (social, organizational, financial, transport, etc.) may be present. The most common types of microeconomic entities are households, firms, and markets for individual goods.

9. Normative economics- part of economic science, the purpose of which is to develop ways to achieve the goals set for the economy. Goals, as a rule, are set by society in the form of its political institutions. The activities of normative economics include examination of goals, development of individual tools, as well as holistic programs to achieve the desired state of the economy, expert support of recommendations developed during their implementation by the state and the real sector of the economy.

10. Exchange – one of the four main phases of the economic process (production, distribution, exchange, consumption). In the exchange phase, participants in the economic process exchange the benefits they received as a result of the two previous phases for the benefits they need for life. In a modern economy, exchange occurs in market equivalent monetary form.

11. Basic questions of economics (how, what, for whom to produce)– a traditional formulation for classical economic theory of the main problems solved by economics. The answer to the question “how to produce” presupposes the creation of a mechanism for selecting technologies for the production of goods and resources that are optimal for given specific economic conditions. The answer to the question “what to produce” presupposes the creation of a system for ranking the needs that exist in a given society, because production is focused on satisfying to the greatest extent and first of all the needs recognized as the highest priority. The answer to the question “for whom to produce” presupposes the creation of a system for the distribution of produced goods in accordance with the existing system of identifying and ranking individual needs. Thus, answering the questions “what, how and for whom to produce,” the economy creates a holistic system for identifying, ranking and effectively satisfying people’s needs in accordance with the social priorities that exist in a given society.

12. Main factors of production– according to the theory of four factors of production, these are labor and land. capital and entrepreneurship. Labor is a production process carried out by man, land is all non-renewable natural resources, capital is all artificial devices used in the production process. Entrepreneurship is a factor of production characteristic of a market-type economy. It is an independent activity in organizing the production process and its general management. The combination of four factors of production essentially constitutes the production process.

13. Property relations– relations between economic entities regarding property objects (benefits and resources).

14. Pareto efficiency– a qualitative criterion for the effectiveness of an economic system. A system is considered to have reached a state of Pareto efficiency if it is possible to increase the degree of satisfaction of the needs of any household included in this system only by reducing the degree of satisfaction of the needs of other members of this community. Named after the Italian economist and sociologist Vilfredo Pareto.

Topic 1: “Subject and method of economic theory”

1. Economy as a special sphere of human life is the object of:

a) systems of natural sciences;

b) systems of social sciences;

c) systems of economic sciences.

Correct answer: c. (P)

1. The system of economic sciences includes:

a) sociology;

b) concrete economic sciences;

c) functional economic sciences;

d) technology

Correct answer: b,c, (P)

3. The most complete and specific definition of the subject of economic theory is:

a) economic theory studies activities including the production and exchange of goods;

b) economic theory studies variables whose behavior affects the state of the national economy;

c) economic theory studies the relations of production, distribution, exchange and consumption in their interrelation and interdependence in conditions of limited resources;

d) economic theory radiates money, the banking system, capital.

Correct answer: c. (P)

4. Microeconomics as a branch of economic theory studies:

a) economic behavior of individual subjects in a market economy

b) relations between different owners

c) organization of work at the enterprise

Correct answer: a. (P)

5. Macroeconomics as a branch of economic theory studies:

a) the role of the state in the economy

b) global trends in the economic development of mankind

c) the national economy as a single whole

d) processes occurring in the household

Correct answer: c. (P)

6. The main significance of economic theory today is that it:

a) helps entrepreneurs avoid risk

b) gives scientists the opportunity to realize their abilities

c) shows the ways of the best organization of social economy to meet the needs of people

d) reveals to a person the true motives of his behavior

Correct answer: c.

7. Positive economic theory studies:

a) “what is what”?

b) “what should be”?

d) value judgments

Correct answer: a. (P)

1. Normative economic theory studies:

a) “what is”?

b) “what should be”?

c) positive trends in economic development;

d) value judgments.

Correct answer: b. (P)

1. The methodological function of economic theory is that:

a) it is one of the ideological disciplines;

b) it is an educational discipline;

c) it determines the essence of economic phenomena and possible tools for studying them

Correct answer: c. (P)

1. Economic theory:

a) deals exclusively with the predictive characteristics of the development of economic systems;

b) contains provisions that are always accepted by all economists;

c) is not science;

d) cannot predict the future, but can explain the relationships between certain phenomena in economic development.

Correct answer: g. (P)

11. Establish the sequence of emergence of the main economic schools:

a) Marxism

b) institutionalism

c) marginalism

d) physiocrats

e) mercantelists

e) classics

Correct answer: d, d, f, a, c, b.

12. The concept of scientific method includes:

a) ways to optimally use all cognitive tools

b) a set of actual data

c) the worldview of scientists

Correct answer: a)

13. The methodology of economic theory is the teaching:

a) about the dynamics of economic development;

b) about scientific methods and principles of knowledge of society;

c) about the principles and methods of economic knowledge.

Correct answer: c. (WITH)

14. What methods of studying economic processes emerged in the twentieth century:

a) synthesis

b) modeling;

c) economics and mathematics;

d) analysis;

e) ascent from the abstract to the concrete.

Correct answer: b, c. (P)

15. If the economy is studied as an integral system, then this analysis:

a) microeconomic;

b) macroeconomic;

c) positive;

d) normative.

Correct answer: b.(P)

16. Economic school that expressed the interests of the trading bourgeoisie of the era of primitive accumulation of capital:

a) mercantilism

b) fetishism

c) physiocrats

d) marginalism

Correct answer: a,.(C)

17. E. Gaidar’s shock therapy was based on the theory:

a) Keynesianism

b) public choice

d) rational expectations

e) monetarism

Correct answer: d.(C)

18. Economic benefits are characterized by:

a) unlimited quantity;

b) created in the process of labor;

c) rarity;

Correct answer: b, c (C)

19. Limited resources are:

a) lack of materials for the operation of the enterprise;

b) characteristics of only pre-industrial systems;

c) the impossibility of fully satisfying the growing needs of humanity;

Correct answer: c. (WITH)

20. A non-economic good is:

a) submarine;

b) leisure and entertainment;

c) wind energy;

c) knowledge.

Correct answer: c. (P)

21. The economic system determines:

a) what, where, for whom to produce;

b) what, where, how to produce;

c) when, why and who will produce;

Correct answer: b. (WITH)

22. Economic theory is the science of:

a) how to improve personal well-being;

b) on state regulation of supply and demand;

c) about the essence of ongoing economic processes and the laws of their development;

d) about the means of satisfying human needs;

Correct answer: c, (C)

23. Scientific foresight is related to:

a) with an assumption;

b) with forecasting

c) with justification of the hypotheses put forward;

d) with the transformation of put forward hypotheses into theory.

Correct answer: b. (WITH)

24. One of the main directions of development of modern economic theory is:

a) school of institutionalism;

c) Keynesian school;

d) school of mercantilism;

d) classical English school

Correct answer: a.(P)

25. The fundamental problem of modern economic theory is:

a) supply and demand;

b) efficiency and fairness;

c) entrepreneurship and profit;

d) limited resources and choice

e) production and consumption.

Correct answer: g.(P)

26. Limited resources are a problem that:

a) exists only in poor countries

b) associated with certain types of economic systems

c) depends on the political orientation in the country

c) never occurs in rich countries

d) exists in all countries.

Correct answer: g.(C)

27. The study of economics as an integral system is:

a) macroeconomic analysis;

b) hypothetical analysis;

c) descriptive analysis;

d) microeconomic analysis.

Correct answer: a. (C)

28. Microeconomics is a branch of economic theory that studies:

a) how society can achieve full employment;

b) how consumers, firms and resource owners behave in the market;

c) problems of accelerating economic growth;

d) issues of economic security.

Correct answer: b.

29. Macroeconomics determines:

a) distribution of limited resources between various areas of their use;

b) a set of factors, phenomena and processes operating at the interstate level;

c) a set of economic factors and processes operating within a single country;

d) mega-economy;

Correct answer: c. (WITH)

30. The economic system of Sweden is:

a) command economy

b) market economy

c) mixed economy

d) traditional economy

e) transition economy

Correct answer: c.

Topic 2. “General principles of economic development.”

1. The most accurate list of factors of production considered by economic theory:

1. land, labor, capital, entrepreneurship
2. land labor, means of production, entrepreneurial ability

3. resources, technology, entrepreneurship

Correct answer: 1. (P)

2. The choice of ways to use limited resources is rational if it:

1. ensures minimization of project execution time

2. leads to savings in all factors of production

3. minimizes costs and maximizes beneficial effects

4. creates opportunities to extract monopoly profits

Correct answer: 3. (P)

3. Solving the problem “What to produce?” reflects:

1. availability of opportunities to sell natural resources
2. a set of goods that satisfy the needs of the minimum subsistence level
3. implementation of decisions of local authorities
4. a set of goods that can satisfy current and future needs

Correct answer: 4. .(C)

4. Opportunity costs are called:

1. costs of implementing all possible projects in the short term
2. costs of implementing desired projects in the long term
3. costs of developing pilot projects in the medium term
4. the cost of realizing the best unrealized opportunity

Correct answer: 5. .(C)

1. The price scale is:

a) one of the functions of money

b) the ratio of prices of goods

c) the amount of gold taken as 1 monetary unit

d) purchasing power of money

Correct answer: c.

6. What resources involved in the production process become factors of production:

Correct answer: 1A, 2B, 3B, 4A, 5A, 6A. (WITH)

1. The opportunity cost of a new residential building is determined by:

a) the cost of building this house

b) the least expensive way to build this house

c) the number of other goods that had to be given up in order to build this house;

d) The amount of profit that the construction company will receive

e) Income received from the sale of apartments in this building.

Correct answer: c. (WITH)

8. The choice of production factors and their combinations in a market economy is carried out:

1. taking into account market prices for resources
2. in accordance with the economic doctrine of development
3. in accordance with their strategic purpose
4. depending on natural and climatic conditions
5. taking into account their wear and tear

Correct answer: 1. .(C)

9. Market economy is focused on:

1.satisfying social needs for a specific good

2.satisfying social needs

3.meeting the strategic political needs of the nation’s development

4.meeting effective demand

5.following instructions from authorities

Correct answer: 4. (P)

10. Commodity production is the organization of the national economy in which products are produced:

1. cooperative producers

2. associated manufacturers

3. manufacturers forced into the production of this product

4. separate manufacturers

Correct answer: 4. .(P)

11. Full use of all resources shows:

a) a shift of the production possibilities curve to the right

b) a point outside the production possibility line

c) a point inside the production possibilities frontier

d) a point on the production possibilities line

e) shift of the production possibilities curve to the left

Correct answer: c. (WITH)

12. The main goal of social production of goods and services:

a) increase in tax revenues

b) ensuring full employment of the population

c) use of minerals

d) meeting social needs

e) achieving social justice

Correct answer: g. (P)

a) the relationship of a person to a thing

b) existing property ties secured by law

c) relations between people regarding the appropriation and alienation of various goods d) the right to use a thing

Correct answer: c.

14. The initial criterion for distinguishing types of economic systems are:

a) stability of economic growth

b) the level of well-being of society members

c) a way of coordinating economic life

d) efficiency of use of natural resources

Correct answer: c)

15. The consumer properties of a product are not related to the level of development of a nation and can only satisfy personal needs. Is this statement true?

Correct answer: 2. .(P)

16. Within the framework of the theory of labor value, goods are commensurable if they:

1. identical properties

2. equal utility for different subjects

3. ability to satisfy the same need

4. the same amount of labor spent on their production

5. natural and climatic conditions in which they were produced.

Correct answer: 4. (P)

17. Proponents of the theory of labor value believed that value is:

1. the total utility that a product brings to society

2. the individual utility that a product brings to society

3. the amount of individual labor spent on the production of goods

4. the amount of socially necessary labor. spent on the production of goods

5. the amount of total labor. spent on the production of goods.

Correct answer: 4. .(C)

18. Specific labor creates:

1. price
2. use value
3. total cost
4. marginal utility
5. total utility

Correct answer: 2. .(P)

19. Specific types of labor are so different from each other that it is possible to reduce them to homogeneity only through measurement in time. Is this statement true?

Correct answer: 1. .(P)

20. Abstract work acts as:

1. individual labor costs

2. costs of the total labor of a hired worker

3. the cost of physical and mental energy of the employee

4. specific form of activity.

Correct answer: 3. .(C)

21. Individual time is the cost of working time:

a) a separate manufacturer

b) average in a given society

c) the maximum possible in a given society

Correct answer: a.(P)

22. Socially necessary time is time. which is required to create a specific product when:

1. the highest level of technology, technology and production organization

2. favorable natural resource conditions

3. maximum production intensity

4. average, normal production conditions for the modern period

5. minimum productivity and labor intensity

Correct answer: 4. .(P)

23. The value of a product is directly proportional to labor productivity. Is this statement true?

Correct answer: 2. .(P)

24. Indicate what characteristics of noble metals have singled them out for the role of universal equivalent:

a) qualitative homogeneity

b) high melting point

c) high cold resistance

d) easy divisibility

d) portability

e) corrosion resistance

g) long-term preservation

h) low specific gravity

Correct answer: a, d, e, f, g.

25. Proponents of the labor theory of value define price as:

1. monetary expression of use value
2. monetary expression of surplus value
3. monetary expression of the costs of specific labor
4. monetary expression of the cost of goods

Correct answer: 4.

26. Marginal utility is:

1. the utility of a good that is available in abundance

2. utility of a good that does not have a stock exchange valuation

3. the utility of the entire set of goods available to the subject

4. utility of an additional unit of consumed good

5. the utility of an available amount of a good that is not available in abundance.

Correct answer: 4.

27. The value of money in modern conditions is determined by:

a) the country's gold reserves

b) their absolute liquidity

c) average price level

d) the amount of money in circulation

e) gold content of the monetary unit

Correct answer: Mr.

28. Goods with absolute liquidity:

a) securities,

b) gold,

c) information,

d) money

e) resources

Correct answer: Mr.

29. The use value of a commodity, labor power, is:

1. the ability to create value greater than the cost of the product itself; labor

2. the ability to create value equal to the cost of the product labor

3. the ability to create value that is less than the cost of the product labor

4. the ability to create value that is qualitatively different from all others

Correct answer: 1. .(P)

30. Capital is:

a) any means of production

b) any money

c) money received as an inheritance

d) cash savings

e) money put into circulation for the purpose of generating income

Correct answer: d.

Topic 3. “Market as an economic system.”

1. Competition in a market economy:

a) exists only among producers;

b) exists only among buyers;

c) is associated with limited resources and the sovereign right of each of the subjects

market to realize its economic potential;

d) exists because it is beneficial to the state.

Correct answer: c). (P)

2. Despite the presence of many disadvantages, the market mechanism has an undeniable advantage. It is expressed:

a) in equal distribution of income;

b) in the stable development of the economy;

c) in the preservation of natural resources;

d) in the efficient allocation of resources.

Correct answer: d) (P)

3. Which of the following characteristics refers to a market economy:

a) competition;

b) state property;

c) centralized planning;

d) state quality control of each product

Correct answer: a). (P)

1. Price competition is:

a) price changes

d) cost reduction.

Correct answer: a), d). (P)

5. What problems in a market economy should the state deal with:

a) determine the range of goods and services that society needs, regardless of the tastes and preferences of any group of the population

b) do what the market cannot do

c) distribute cash income in society;

d) provide assistance to a manufacturer who finds himself in a difficult situation;

d) determine what to produce and how much.

Correct answer: b). (WITH)

6. Producers in a market economy produce exactly what people need because...

a) producers agreed and divided the markets for goods and services among themselves;

b) interaction between producers is coordinated by the government;

c) a competition mechanism operates;

D) these goods and services are traditionally produced.

Correct answer: c). (P)

7. The experience of post-war European countries has shown that a market economy, as a rule, is more effective than a command-administrative one. This…

• due to the fact that European countries with developed market economies have accumulated high scientific and technical potential and trained highly qualified personnel;

b) explained by the action of the competition mechanism;

c) the statement is incorrect;

d) due to the fact that government members in countries with market economies know economic theory better and pursue correct economic policies.

Correct answer: b). (P)

1. The market as an economic category is:

a) the place where the seller and buyer meet,

b) a set of connections and relationships between sellers and buyers,

c) subordination of the buyer to the seller

Correct answer: b).

9. In a market economy, the interests of society as a whole will be respected even if everyone strives to achieve their own goals. This is achieved as a result...

a) that the market economy is built on the principles of competition;

b) social responsibility of business leaders;

c) careful planning and coordination of market activities;

d) the market ensures rational distribution of resources and changes in production proportions depending on needs

e) understanding by each citizen of what the public interests are.

Correct answer: d). (WITH)

10. What markets exist in modern conditions:

a) free market,

b) regional market

c) national market

d) world market

Correct answer: a)

1. The main subjects of market relations are:

a) state

b) Gazprom

c) buyers

d) collective farm "Voskhod"

d) sellers

Correct answer: a) c) d)

1. A competitor in an industry market is a manufacturer that:

a) expands the amount of capital used through diversification

b) increases the volume of production

c) maneuvers prices

Correct answer: b), c).

1. Price in a market economy performs the following functions:

a) Stimulating

b) credit

c) accounting

d) fiscal

e) distribution

Correct answer: a)c)d)

1. Market infrastructure performs the following main function:

a) determines the volume of production

b) ensures the work of all market entities

c) makes payments to customers

Correct answer: b)

1. Objects of market relations can be:

a) economic benefits,

b) services,

c) social relations

d) political benefits

Correct answer: a) b).

16. The solution to the problem of “what to produce” in a market economy involves:

a) with determining the level of specialization of the economy

b) the choice between the production of means of production and the production of consumer goods

c) the formation of a state production system

d) development of competition

d) effective demand

Correct answer: d)

17. What characterizes perfect competition:

A) production volumes of an individual firm

b) the ability of the manufacturer to influence the market price

c) the inability of the manufacturer to influence the market price

d) product quality

e) product differentiation

Correct answer: c)

18. There is an element in the market mechanism in which government intervention can lead to the breakdown of the market mechanism. This:

a) changing demand

b) rate of profit

c) additional demand for capital

e) change in supply volume

Correct answer: d)

Topic 4. “Fundamentals of the theory of supply and demand”

1. A horizontal demand curve is completely inelastic.

b) Incorrect

Correct answer: b) P.

2. A simultaneous increase in supply by 12% and demand by 40% will lead to:

a) reducing the price and increasing the quantity of goods

b) establishing a stable price and increasing the quantity of goods

c) reducing prices and reducing the quantity of goods

d) an increase in prices and an increase in the quantity of goods

e) establishing a stable quantity and reducing the price.

Correct answer: d)

Movement along the demand curve will occur in the following cases:

a) Changes in consumer expectations

b) Reducing the price of an interchangeable product

c) Changes in the price of a given product

d) Changes in the supply of goods

Correct answer: c).

4.Which of the following factors can cause an increase in demand for a product?

a) increase in income;

c) decrease in income;

c) increase in the price of a substitute product;

e) an increase in the price of a complementary product;

f) the product has ceased to be fashionable;

Correct answer: a).

5. Item A is normal if

a) an increase in the price of complementary good B leads to a decrease in demand for good A;

b) an increase in consumer income causes an increase in demand for product A;

c) an increase in the price of a substitute product is the reason for an increase in demand for product A;

d) meets the requirements of the law of demand;

e) income and demand for good A are inversely related.

Correct answer: b).

6. The price of a product will fall if:

a) there is a surplus on the market;

b) the current market price is higher than the equilibrium price;

c) the quantity supplied of a product exceeds the quantity demanded for it at the current price;

d) all of the above factors are true;

e) all of the above factors are incorrect.

Correct answer: d).

7. The fact that a fall in the price of a product pushes the producer to reduce its supply is illustrated:

a) the law of supply;

b) the law of demand;

c) change in supply;

d) the very essence of low-quality goods;

d) technological progress.

Correct answer: a).

8. Which of the following factors will shift the supply curve for good “x” to the left?

a) reducing the wages of workers producing goods X;

b) an increase in the cost of equipment with which product x is manufactured;

c) technological improvements in the production of goods X;

d) a situation in which the volume of demand exceeds the volume of supply of product x;

Correct answer: b).

9. If available resources can be used to produce both goods “A” and goods “B”, then A and B are:

a) substitute goods in production;

b) complementary goods in production;

c) substitute goods in consumption;

d) complementary goods in consumption;

d) normal goods.

Correct answer: a).

10. If both demand and supply increase in the same proportion, then:

a) the price rises, sales volume increases;

b) the price falls and sales volume increases;

c) the price and sales volume will not change

d) the price will rise, and sales volume may either rise or fall;

e) the price will decrease and sales volume will either increase or decrease.

Correct answer: c).

11. The law of demand states that, other things being equal:

a) prices and incomes are directly proportional;

b) income and volumes of trade transactions are directly proportional;

c) prices and volumes of demand are directly proportional;

d) prices and volumes of demand are inversely proportional.

Correct answer: d).

12. If two goods are substitute goods and the price of one of them increases, then the demand for the other goods will be:

a) do not change;

c) fall.

Correct answer: b).

13. The law of supply states that, other things being equal:

a) price and volume of demand are inversely proportional;

b) price and supply volume are inversely proportional;

c) income and supply are not interrelated;

d) price and quantity supplied are directly proportional.

Correct answer: d).

14. Changes in the volume of supply may be due to changes in:

a) demand

b) income;

Correct answer: d).

15. A price above the equilibrium price can lead to the following consequences:

a) shortage;

b) inflation;

c) market equilibrium

d) excess supply;

Correct answer: d).

16. In markets, the equilibrium price is determined by:

a) the decision of buyers

b) government decision

c) decision of the manufacturers

d) supply and demand

Correct answer: d)

17. Excessive supply of goods on the market is a consequence of the fact that:

b) the price of a product is below the equilibrium

c) the price of a product is higher than the equilibrium price

d) the volume of production of this product has decreased

e) the volume of demand for this product has increased

Correct answer: c)

18. Excess demand for a product (shortage) is a consequence of the fact that:

a) the price of the product is equal to the equilibrium price

b) the price is below the equilibrium price

c) the price is higher than the equilibrium price

d) the quantity supplied has decreased

d) the quantity supplied has increased

Correct answer: b)

19. Other things being equal, an increase in demand will lead to:

a) to an increase in the equilibrium price and an increase in supply

b) to a decrease in equilibrium price and supply

c) to a decrease in the equilibrium price and an increase in supply

d) to an increase in the equilibrium price and a decrease in supply

Correct answer: a)

20. The elasticity of supply is influenced by:

a) availability of substitute goods on the market

b) time factor

c) the share of expenses in the consumer budget for this product

d) consumer income level

d) no factor influences

Correct answer: b).

21. Interchangeable goods:

a) are produced simultaneously

b) have the same price

c) complement each other when consumed

d) compete with each other in the market

e) stimulate each other's sales

Correct answer: d)

22. Complementary products:

a) are produced simultaneously

b) have the same price

c) complement each other in the process of consumption

d) compete with each other in the market

Correct answer: c).

23. The reason for the shift in the supply curve may be:

a) changing consumer tastes

b) increase in buyer income

c) reduction in the price of goods

d) introduction of new income taxes

Correct answer: d)

24. The reason for the shift in the demand curve can be everything except:

a) rush demand

b) increasing the income of buyers

c) reduction in the price of goods

d) change in fashion

Correct answer: c)

25. If an increase in the price of a product by 1% causes an increase in supply by 1.2%, then this supply:

a) elastic

b) inelastic

c) has unit elasticity

d) absolutely elastic

d) absolutely inelastic

Correct answer: a).

26. If the price elasticity of demand is 2.5, and demand increased by 10%. then the percentage increase in price will be:

Correct answer: c).

27. The elasticity of demand is influenced by:

a) consumer income level

b) consumer preferences

c) time factor

d) none of these factors influences.

Correct answer: a)

Topic 5: “Theory of consumer behavior.”

1. Indicate the main factors influencing consumer behavior:

c) need;

d) proposal.

Correct answers: a), c), d). (P)

1. According to the law of diminishing marginal utility, the marginal utility of each additional unit of the same good as consumption increases is:

b) decreases;

c) remains unchanged.

Correct answer: b). (P)

1. Marginal utility is:

• a measure of the overall satisfaction obtained from the consumption of goods over a certain period of time;

b) additional utility from each subsequent unit of consumed product

c) a change in the total utility of a good caused by a change in consumer income.

Correct answer: b). (P)

1. The indifference curve shows:

• all combinations of goods for which the total amount of costs equals income;

b) different sets of goods and services.

c) the entire set of combinations of two goods that have the same utility for the consumer.

Correct answer: c). (P)

1. Under which of the following conditions is consumer equilibrium satisfied?

• when the indifference curve has two intersection points with the budget line;

b) when the indifference curve does not intersect the budget line;

c) when the indifference curve touches the budget line at one single point.

The correct answer is c). (WITH)

1. The ability of consumers to purchase more goods as a result of lower prices is explained by:

• law of diminishing marginal utility;

b) income effect;

c) the substitution effect.

Correct answer: b). (P)

1. The negative slope of the indifference curve reflects the fact that:

• the consumer has limited income;
• provided that the consumption of one of the goods increases, it is necessary to reduce the consumption of another good;
• consumer preferences are explained by the prices of the goods purchased.

Correct answer: (b). (P)

1. The budget constraint equation represents the equation of the straight line:I = …………………

Answer: I=P1X + P2Y (P)

1. The difference between marginal utility and total utility is………………..

Correct answer: that marginal utility characterizes the change in total utility. (P)

1. Fill in the blanks in this table:

Correct answers: (d) = 21; (d) = 19; b) = 7; d) = 3. (PS)

1. In this graph, the consumer's equilibrium is indicated by the point………………….

Correct answer: E

12. Find the correspondence between the definitions and their content:

b) need;

c) general utility;

d) marginal utility.

1) a change in total utility caused by a change in the consumption of a given good by one unit, provided that the consumption of other goods remains unchanged;

2) a measure of overall satisfaction received from the consumption of goods over a certain period of time;

1. the ability of an economic good to satisfy human needs.
2. a person's desire to consume various goods.

Correct answer: a-3, b-4, c-2, d-1. (WITH)

1. The tenth candy does not give as much pleasure as the first.
   That's an example:

a) law of demand

b) dependencies between supply and demand

c) opportunity cost

d) decreasing marginal utility

Correct answer: d).

1. The consumer reaches optimal consumption when:

a) each good purchased brings the same marginal utility

b) achieves maximization of total utility under budget constraint

c) the same amount of money is spent on buying different goods

d) the maximum volume of consumed goods is achieved

Correct answer: b)

15. Check the correct statement:

a) the consumer always prefers more to less;

b) the consumer makes decisions under conditions of limited income;

c) the marginal utility of any good increases as the consumed quantity of a given type of good increases;

Correct answer: b)

a) indifference curve;

b) marginal rate of substitution;

c) budget constraint;

1). the maximum quantity of one good that a consumer is willing to give up in order to obtain an additional unit of another good.

2). the amount of money available that can be spent on purchasing goods;

3). various combinations of economic goods that have the same utility for the consumer.

Correct answer: a-3, b-1, c-2..(C)

17. As the total utility from consuming a good increases, marginal utility:

a) increases

b) decreases

c) reaches a maximum

d) negative

d) equal to zero

Correct answer: b) (P)

1. The rate of substitution of one product for another:

a) effective replacement of one good with another

b) expresses diminishing marginal utility

c) equal to the ratio of prices for goods

d) shows the amount of product X that the consumer agrees to give for an additional unit of product Y.

Correct answer: d).

19. The cardinalist theory of utility differs from the ordinalist theory in that:

a) does not consider subjective preferences

b) considers it possible to quantitatively measure utilities

c) does not use models

Correct answer: b).

20. Usefulness is:

a) the property of a product to bring any benefit during its use

b) cheapness of the goods

c) product availability

d) variety of goods

Correct answer: a).

21. Sets of goods that have the same utility lie on:

a) budget line

b) one indifference curve

c) one demand curve

Correct answer: b).

22. If the consumer’s income changes, then the budget line:

a) moves

b) does not change its position

c) nothing can be said specifically

Correct answer: a).

23. Consumer choice:

a) choice that maximizes consumption

b) choice that maximizes utility under a limited budget

c) choice that maximizes demand

Correct answer: b)

24. The substitution effect is:

a) a change in demand due to changes in fashion

b) an increase in demand under the influence of rising prices

c) a change in the consumption structure as a result of a decrease in price by one

d) product change in real income of the consumer

Correct answer: c)

25. The income effect is:

a) an increase in demand for expensive goods

b) a change in the consumption structure as a result of a decrease in the price of one product

c) a change in the consumer's real income as a result of price changes

d) changes in demand under the influence of fashion

Correct answer: c)

Topic 6. “The company, its costs and profits

1. Normal profit is:

a) state income;

b) an element of accounting costs;

c) an element of internal costs;

The correct answer is c).

1. Which of the following definitions most accurately matches the concept of “normal profit”:

a) profit obtained when marginal revenue and marginal costs are equal;

b) the profit received by a typical firm in the industry;

c) the profit that the company would receive in the normal course of business;

d) the minimum profit necessary for the company to remain within a given field of activity;

e) profit that provides the entrepreneur with a comfortable standard of living.

The correct answer is d).

1. Centralization of production is:

a) growth of the company using its own funds;

b) the company’s penetration into different industries and areas of activity;

c) growth of the company due to the addition of other industries to it through mergers and acquisitions;

The correct answer is c).

4. The relationship that exists between changes in the values ​​of average (AP) and marginal products (MP) indicates that in the point of intersection of the graphs of these quantities:

a) the average product reaches its maximum;

b) the average product reaches its minimum;

c) marginal product reaches its maximum;

d) marginal product reaches its minimum.

The correct answer is a).

1. The firm's fixed costs are:

a) workers' wages

b) office rental costs

c) costs of electricity consumed by the active part of fixed capital

d) costs of purchasing raw materials and materials

Correct answer: b)

1. The law of diminishing returns means that in the short run:

a) with an increase in the used factors of production, the effect of scale decreases;

b) the volume of output with certain technologies tends to decrease;

c) with an increase in the variable factor of production, with constant constants, the product of this factor increases, reaching its maximum, and then decreases;

d) with an increase in production volume, the value of the marginal product becomes negative.

The correct answer is c).

1. Economic costs of the company:

a) exceed internal and external costs by the amount of normal profit

b) do not include internal and external costs

c) determined by external costs

d) consist of internal costs

e) include internal and external costs.

Correct answer: d).

1. Internal costs are:

a) costs of equipment maintenance and servicing

b) costs that do not depend on the volume of output

c) the opportunity cost of the entrepreneur's resources

d) the costs of organizing a company

e) environmental protection costs

Correct answer: c)

9. Which of the following statements characterizing the relationship between total, average and marginal product is incorrect?

a) average product continues to increase as long as marginal product increases;

b) average product reaches its maximum level before total product reaches its maximum level;

c) total product reaches its maximum level when marginal product is zero;

d) the marginal product is equal to the average product at the maximum level of the average product;

e) total product decreases if marginal product is less than zero.

The correct answer is a).

1. Variable costs include:

a) property tax

b) interest on a bank loan

c) rent

d) wages

Correct answer: d)

1. In the long term:

a) all costs are variable;

b) all costs are constant;

c) variable costs are growing faster than fixed costs;

d) fixed costs grow faster than variable costs;

d) all costs are implicit

The correct answer is a)

13. In the short run, a firm produces 500 units of output. Average variable costs are $2, average fixed costs are $0.5. Total costs will be:

a) $0.25; b) $1250; c) $750; d) $1100; d) cannot be determined based on available data

The correct answer is b)

14. The opportunity costs of a new stadium are:

a) payment for his security;

b) the price of construction of the stadium next year;

c) changing the tax rate, which is paid from the stadium’s income;

d) the price of other goods and services, the production of which was sacrificed for the construction of this stadium.

The correct answer is d)

15.The firm’s gross costs can be defined as the sum:

a) average fixed and variable costs

b) average variable and average fixed costs

c) fixed and marginal costs

d) fixed and variable costs

e) constant and average variables.

Correct answer: d)

16. Positive economies of scale mean that:

a) better organization of work is achieved

b) there is a decrease in average costs

c) the marginal productivity of factors of production increases

d) production volume increases

Correct answer: b)

15. The marginal product of a factor of production is:

a) the maximum possible output using a given factor,

b) the volume of output using all factors of production

c) additional output when the factor increases by one

d) output per unit factor

Correct answer: c).

1. Maximizing the firm's profit is considered the main goal in:

a) classical theory;

b) management theory;

c) behavioral theory;

d) evolutionary theory;

The correct answer is a)

1. Transaction costs are:

a) costs of determining and protecting property rights;

b) costs of economic dishonesty;

c) costs associated with unexpected circumstances;

d) costs of searching for information;

e) negotiation costs;

e) all of the above are true.

The correct answer is e)

1. Long-run average cost curve:

a) is the envelope for the minima of short-term average cost curves

b) is not an envelope for short-term average cost curves

c) is a mirror image of the average product curves

d) characterizes changes in marginal costs

Correct answer: a).

1. Accounting profit is:

a) revenue from sales of products

b) the difference between the firm's revenue and opportunity costs

c) the difference between gross income and external costs

Correct answer: c)

1. Establish a correspondence between the economic indicators of costs and the formula determining their value:

IZ D E R J KI

average overall average averagemaximum

common constant variables

1. FC=TFC:Q
2. MC = D TC: D Q
3. TC = TFC + TVC
4. ATC=TC:Q
5. AVC=TVC:Q
6. ATC = AFC + AVC
7. = D TVC: D Q

Correct answer: 1C; 2E; 3B; 4A; 5D; 6 A; 7E.

21. The term "marginal cost" means:

a) the maximum that a producer can spend on the production of a given product

b) the amount of expenses in excess of average variable costs

c) the cost of producing an additional unit of output

d) additional costs associated with increased prices for resources

Correct answer: c)

1. Establish a correspondence between the economic indicator and its definition:

TRTS TR MRMSAS

additional unit of production;

1. revenue received from the sale of general

volume of products;

1. quantity of product obtained from

using the entire resource volume

1. production costs

units of production

1. product obtained from use

additional unit of resource

1. production costs for the entire volume

products

Correct answer: 1 E; 2 C; 3 A; 4 F; 5 D; 6E

1. If the only variable resource is labor and the remaining factors are fixed:

Number of workers (persons) 0 1 2 3 4 56

Product output (pieces)04090 126 150 165 180

The marginal product of the 6th worker will be...

The correct answer is 15 pieces

24. Marginal costs are the costs associated with the production of ... units of production (specify in one word)

Correct answer: additional.

26. Average costs are the costs associated with the production of ... products (specify in one word)

Correct answer: units

27. If long-term average costs decrease as production volume increases, then:

a) there are diseconomies of scale

b) there is a positive effect of scale

c) there are constant economies of scale

d) there is not enough data to answer

Correct answer: b)

28. If the following conditions are given:

production output 0 123 4

total costs 60 140 180 240 420

then the total fixed costs will be...

Correct answer 60

29. If, in producing 10 units of output, total fixed costs are $20 and total variable costs are $40, total average costs will be...

Correct answer: 6.

30. If the volume of a variable resource increases from 3 to 4 units, and the volume of output increases from 90 to 100 units, then the marginal product of the variable resource will be…..

The correct answer is 10 units.

31. If the average product of a variable resource is 15 units, and the value of a variable resource is 4 units, then the total output will be equal to…..

The correct answer is 60 units.

Topic 7: “Perfect competition”

1. A typical firm in a perfectly competitive industry:

a) considers the market price of the product as given;

b) can partially, but not completely, control the entry of new firms into the industry;

c) can sell more product only if it reduces the price;

D) sells a product that is unique compared to the products sold by other firms in the industry.

Correct answer: a).

1. The equilibrium level of output of a competitive firm is established at:

Correct answer: b).

1. Choose the correct statement:

b) in the short run, a competitive firm will not produce if price is greater than variable costs but less than total costs.

c) in the short run, a competitive firm will not produce if the price is below variable costs;

D) in the short run, a competitive firm will not produce if price equals total cost.

Correct answer: c).

1. If the market price is lowerAVC, then a typical firm in a competitive industry:

a) has excess profits;

b) operates at break-even;

c) reduces output and increases the price of products;

D) closes and possibly leaves the industry.

Correct answer: d).

1. Which 2 of the following descriptions characterize a perfectly competitive market:

a) each seller is completely dependent on the behavior of the other seller

b) firms freely enter and leave the industry;

c) each seller sets his own price that maximizes his profit;

d) sellers cannot influence the price.

Correct answer: b), d).

1. If a firm operating in a perfectly competitive market reduces its supply of products, then:

a) will lead to a decrease in the market price of the product;

b) will not have any impact on the market;

c) will lead to an increase in the market price of products;

d) will reduce supply and increase the market price of products.

Correct answer: b).

1. If the government sets a price on the market that is lower than the equilibrium price, then:

a) the winnings of buyers are usually greater than the losses of sellers;

b) buying the same quantity, buyers will not incur losses;

c) consumer welfare may decline;

d) producers will definitely sell more of the product.

Correct answer: c).

1. The most efficient allocation of resources can ensure:

a) monopoly

c) perfect competition

d) oligopoly

d) imperfect competition

Correct answer: c)

1. List three consequences of rising economic profits in a competitive market:

a) expansion of production in existing firms;

b) the influx of new firms into the industry;

c) increasing the market price of products;

d) increase in prices for used resources.

Correct answer: a), b), d).

1. If firms operating in the market do not make economic profit in the long run, then this is:

a) monopoly

b) perfect competition

c) oligopoly

d) monopsony

Correct answer: b).

1. In the short term, under conditions of perfect competition, it is advisable for an enterprise to expand its output if:

D) a competitive firm cannot expand volume.

Correct answer: b).

1. Which of the following markets best represents perfect competition?

b) hairdressing services;

c) vegetables;

d) cars;

d) gasoline.

Correct answer: c).

1. Marginal Revenue (M.R.) - This:

a) income per unit of good sold;

b) the total amount of proceeds from the sale of a certain amount of goods;

c) an increase in income arising from the sale of one more unit of production

d) the maximum possible income of the enterprise in the current economic situation.

Correct answer: c).

1. Competition will be perfect if:

a) there are many small firms on the market producing the same products

b) there are no close substitutes for the product

c) the market is surrounded by barriers

D) the demand curve for a product has a negative slope.

Correct answer: a).

1. Average income is:

a) income from rising prices for resources in conditions of expansion of production

b) the condition of maximization of any firm in each market

c) total income divided by the number of products sold

d) income equal to accounting profit

Correct answer: c).

16. The break-even point is:

a) total revenue divided by volume of products sold

b) the volume of production at which total costs are equal to total income or average costs are equal to the price of the product

c) the volume of production at which the price of the product is equal to variable costs

Correct answer: b)

1. Freedom of entry and exit from the industry means:

a) there are no legal and economic barriers

b) the creation of new companies is possible only after obtaining permission from the city administration

c) creating a company requires large capital

d) to create a company, it is enough to buy complex technological systems

Correct answer: a)

1. Firms operating in conditions of perfect competition in the long run choose the volume of output at which the minimum long-term average cost is equal to price. Is this true? Lf

Correct answer: (1).

1. Rule MR= MS = P is:

a) a condition for expanding production and rising prices for resources

b) the profit maximization condition for a perfectly competitive firm

c) the condition for obtaining normal accounting profit

d) the condition for maximizing profit for any company

Correct answer: b)

1. The company will close if:

a) price is less than variable costs

b) price is less than fixed costs

c) price equals average cost

d) price is greater than average cost

Correct answer: a)

1. In a perfectly competitive enterprise, accounting profit is:

a) part of the firm's internal costs

b) part of the total profit

c) part of normal profit

Correct answer: b)

1. Demand curve for a competitive firm's product:

a) has a negative slope

b) horizontal line at a given price

c) a vertical line for a given volume

d) has a positive slope

Correct answer: b)

23 Economic profit of a perfectly competitive firm:

a) cannot take place in the long run

b) equivalent to accounting profit

c) exists whenever total costs exceed total revenue

Correct answer: c)

1. Indicate in the correct sequence the changes that occur in a perfectly competitive market in the long run with unprofitable production:

a) there is a shortage of goods on the market

b) prices begin to rise

c) the entry of new firms into the industry.

d) price and average costs equalize

d) individual firms leave the industry.

Correct answer: e), a), b), d), c).

25. Indicate in the correct sequence the changes that occur in a perfectly competitive market in the long run when enterprises in the industry receive economic profit:

a) a decrease in the price of a product or an increase in sales support costs.

b) new competing firms enter the market.

c) decrease in profits.

d) reduction in the influx of competitors.

Correct answer: b), a), c), d).

1. Find the volume of products produced by the enterprise.

Correct answer: the enterprise must continue to operate.

1. The disadvantages of a perfectly competitive market include:

a) low production volume

c) low level of costs for technical improvement

d) price instability.

Correct answer: c)

1. The total costs of a competitive firm with a change in output per unit time change as follows:

Determine the marginal cost of the third unit of production.

Correct answer: 14.

1. Economic profit is less than accounting profit by the amount:

a) external costs

b) fixed costs

c) variable costs

d) internal costs

Correct answer: d).

Topic 8. “Market structures of imperfect competition.”

1. Imperfect competition differs from perfect competition:

a) production volumes

b) level of technical development

c) the size of an individual enterprise

d) the ability to control or not control prices.

Correct answer: d).

1. Monoprolistic competition is:

a) many firms that cannot influence prices

b) several firms, each of which controls a significant market share

c) the only seller of these goods

d) sellers of differentiated products with limited control over price

d) firms colluding to maintain the price of a product

Correct answer: d)

1. The most efficient allocation of resources can potentially ensure:

a) monopoly

b) monopolistic competition

c) oligopoly

d) perfect competition

d) imperfect competition

Correct answer: d)

4. A firm under conditions of monopolistic competition maximizes income when:

a) marginal revenue equals total cost

c) marginal revenue is greater than marginal cost

d) marginal revenue equals marginal cost

e) marginal revenue is greater than total cost

Correct answer: d)

5. The market of perfect and monopolistic competition have a common feature:

a) produce differentiated products

b) there are many buyers and sellers operating in the market

c) standard products are produced

d) the behavior of a firm depends on the behavior of its competitors.

Correct answer: b)

6. Long-term equilibrium in the market of monopolistic competition leads to:

a) prices exceeding average costs

b) prices lagging behind average costs

c) the excess of marginal costs over market prices

d) disappearance of economic profit

Correct answer: d)

1. The market closest to the market of monopolistic competition is:

a) machines

b) energy

d) milk

Correct answer: c).

1. An imperfectly competitive firm maximizes its profits when:

Correct answer: d).

1. Product differentiation is:

a) production of similar products that differ only in quality, design, style, etc.

b) production of identical products with different costs

c) production of identical products with different degrees of profitability

Correct answer: a).

1. Profit maximization rule (MC = MRor a special case MS = MR= P) applies:

a) only in a perfectly competitive market

b) only in monopolistic competition

c) only in a monopoly market

d) only in oligopoly conditions

d) in all markets.

Correct answer: d)

11. In a perfectly competitive market, firms offer:

a) less diverse products than under monopolistic competition;

b) equally varied goods;

c) more variety of products than under monopolistic competition.

d) setting too high prices for consumer goods.

The correct answer is a. (WITH).

12. In an oligopolistic market there are:

a) a large number of medium and large firms;

b) several large firms

c) one company

d) many small firms

The correct answer is b. (P)

13. Common feature of oligopoly and perfect competition

a) there are many small firms on the market

b) firms can influence prices

c) differentiated products are sold

Correct answer: a)

14.Common features of oligopoly and monopolistic competition market:

a) there are no barriers to entry into the industry

b) the behavior of firms is determined by the behavior of competitors

c) there are a small number of sellers

d) firms are able to influence prices

Correct answer: d)

1. Oligopoly is characteristic of markets:

a) clothes

b) agricultural products

c) cars

Correct answer: c).

1. The peculiarity of oligopoly is:

a) the presence of monopoly power in one of the firms

b) lack of product differentiation

c) free entry into the industry

d) the response of firms to each other's behavior

Correct answer: d)

1. Price leadership means focusing on a company that

a) produces the cheapest products

b) uses technical innovations

c) produces original products

d) the largest and most experienced in this production

Correct answer: d)

18. A natural monopoly is:

a) an industry in which a product can be produced by one firm at lower average costs than if it were produced by more than one firm;

b) an industry in which the state regulates prices and volume of production;

c) a company that has driven out all its competitors from the market due to the better quality of its products.

The correct answer is a. (WITH)

19. An example of a natural monopoly is:

a) OPEC - international oil cartel;

b) Savings Bank of the Russian Federation;

c) Publishing house "Izvestia";

d) Moscow metro.

The correct answer is d. (WITH)

20. Price discrimination is:

a) Differences in remuneration by nationality or gender;

b) Selling the same products at different prices to different groups of buyers at the same costs;

c)Increasing the price of a higher quality product.

The correct answer is b. (WITH)

21. A profit-maximizing monopolist will increase output if:

a) Average costs fall;

c) Marginal revenue is higher than marginal cost;

d) Marginal revenue equals variable cost.

The correct answer is s. (WITH)

22. To get maximum profit, the monopolist must choose a volume of output at which:

a) Marginal cost is equal to the price of production;

b) Marginal cost equals total cost;

c) Marginal revenue equals marginal cost;

d) Average cost equals the price of the product.

The correct answer is s. (WITH)

23. Cost-plus pricing is based on:

a) average variable costs plus average profit

b) average fixed costs plus average profit

c) average variable costs plus normal profit

d) average total costs plus average profit

Correct answer: d).

24. Find a correspondence between the type of market structures and the number of firms in the industry:

Correct answer: 1-s; 2-b; 3-c; 4-d. (WITH)

25. There is a single buyer of coal mining equipment on the market. This type of market is characterized as:

a) monopoly;

b) monopsony;

c) oligopoly.

Correct answer: b). (WITH)

1. A monopolist, as opposed to a competitive firm

a) can set any price for his product

b) maximizes profit when marginal revenue and marginal cost are equal

c) can produce and sell any volume of products

D) can choose a combination of price and output.

Correct answer: d)

1. To obtain maximum profit, the monopolist must choose a volume of output at which:

a) marginal cost equals the price of the product

b) marginal cost equals total cost

c) marginal revenue equals marginal cost

d) marginal revenue equals total cost

Correct answer: c)

28. If a firm, under conditions of imperfect competition, produces a volume of output at which marginal revenue is greater than marginal costs, then to increase profits it should:

a) increase the volume of production;

b) reduce the volume of production;

c) leave output unchanged.

The correct answer is a. (WITH)

29.Unlike a competitive firm, a monopoly strives to:

a) produce more products and set the price higher

b) produce less products and increase the price

c) change the price depending on production volume and demand

d) adapt to the price

Correct answer: c).

1. Regulation of natural monopolies pursues all of the following values, except:

a) price restrictions

b) increase in production volume

c) establishing the amount of monopoly excess profit

d) setting prices at the level of average costs

Correct answer: c)

Topic 9. Factors of production market

1. A student has $100 and decides whether to save it or spend it. If he puts the money in the bank, in a year he will receive $112. Inflation is 14% per year. In this case, the real interest rate will be:

d) will be equal to inflation;

e) cannot be determined based on available information

The correct answer is b).

1. Loan interest is:

a) payment for a material resource

b) investment efficiency indicator

c) the price paid to the owner of capital for the temporary use of his funds

d) excess profit

d) interest on deposits

Correct answer: c)

1. A competitive firm seeking to maximize profits should hire additional workers only if:

a) total revenue is less than total costs;

b) the marginal product of labor in monetary terms is less than the wage rate;

c) the value of the marginal product in monetary terms decreases;

d) the value of the marginal product in monetary terms increases;

e) the marginal product in monetary terms exceeds the wage rate.

The correct answer is d).

1. When a competitive firm reaches a level of production at which the monetary value of the marginal product of each resource equals the price of that resource, then it:

a) produces a product at minimal cost, but does not necessarily receive maximum profit;

b) receives maximum profit, but does not necessarily produce products at minimum costs;

c) receives maximum profit with minimum production costs;

d) does not necessarily receive the maximum profit or achieve the minimum level of costs;

The correct answer is c).

5. Capital and labor are interchangeable. If the price of capital rises, then the labor demand curve:

a) moves to the right

b) moves to the left

c) stays in place

d) there is not enough information to answer

Correct answer: a).

6.Rent valuation of land is:

a) land rental price;

b) the total income received from the use of the service of this asset by its owner;

c) the price at which the land plot is sold on the market;

The correct answer is a).

7. When wages increase, the following will happen:

a) reduction in employment if the demand for labor is elastic;

b) a reduction in employment if the demand for labor is completely inelastic;

c) an increase in employment if the demand for labor is elastic;

d) an increase in employment if the demand for labor is inelastic;

e) employment will not change if the demand for labor is elastic

The correct answer is a)

8. In the first year the price level does not change, the nominal interest rate is 6% per year. In the second year, the inflation rate was 3%. If the real interest rate in the second year remains unchanged, then the nominal interest rate in the second year must:

a) grow by 9%;

b) grow by 3%;

c) will decrease by 3%;

d) grow by 6%;

d) remain unchanged at 6%.

The correct answer is b).

1. Which of the following definitions represents a productive economic resource:

a) money capital;

b) means of production;

c) percentage;

d) profit;

d) consumer goods.

The correct answer is b).

1. Ground rent will increase, other things being equal, if:

a) the price of land decreases;

b) demand for land is growing;

c) demand for land is decreasing;

d) the supply of land is increasing;

e) under none of these conditions.

The correct answer is b)

1. Land supply:

a) absolutely inelastic;

b) characterized by unit elasticity;

c) absolutely elastic;

d) elastic;

d) inelastic.

The correct answer is a)

1. The company plans to take out a bank loan for the construction of a new enterprise. The annual interest rate is 18%. The expected rate of return is set at 20%. Under these conditions, the company:

a) will not build a new enterprise;

b) will build a new enterprise;

c) despite the loss, decides to build an enterprise;

d) will not be able to make decisions based on the available information;

d) such a situation cannot occur.

The correct answer is b)

1. A positive decision on the construction of a bridge, which will serve for 200 years and generate a profit of 10%, will be made provided that the interest rate on the loan for construction is:

a) no more than 2%;

b) no more than 20%;

c) 10% or less;

d) 10% or more;

e) there is no information to make a decision.

The correct answer is c)

1. An increase in the interest rate, other things being equal, will lead to:

a) investment growth

b) reduction in the supply of loan capital

c) reduction in investment

d) an increase in demand for borrowed funds

e) will not affect the amount of investment.

Correct answer: c)

1. The real interest rate is:

a) the equilibrium interest rate

b) nominal interest rate

c) nominal rate minus inflation rate

d) nominal rate minus equilibrium rate

e) nominal rate plus inflation percentage

Correct answer: c)

1. Marginal product of a factor of production in monetary terms:

a) represents the price of the last unit of production

b) equal to the increase in revenue when using an additional unit of production factor

c) equal to the change in production volume when using an additional factor of production

d) this is the average price of the product

Correct answer: b)

1. Monopsony in the labor market is:

a) an association of workers that has the right to negotiate with employers

b) the only buyer of labor in this market

c) an organization engaged in advanced training of employees

d) the only manufacturer of any product

Correct answer: b)

1. Marginal labor costs:

a) represent an increase in variable costs with an increase in the volume of output per unit;

b) represent an increase in fixed costs with an increase in the volume of output per unit;

c) all additional production costs

d) represent an increase in total labor costs when hiring an additional worker;

The correct answer is d)

1. The interest rate in the country is 20%. The investor is offered to invest 100,000 rubles. for a period of two years. What minimum annual profit must he be promised in order for him to agree:

Correct answer: b)

20. If the supply of a factor of production is completely inelastic, then on the graph it is:

a) descending line

b) horizontal line

c) vertical line

d) rising line

Correct answer: c)

1. If the government sets the minimum wage higher than the equilibrium wage rate, then in the labor market:

a) there will be a labor shortage

b) there will be a surplus of labor

c) the demand for labor will increase

D) labor supply will decrease.

Correct answer: b)

1. The value of land rent will decrease if the demand curve for land shifts to the right. Is this true?

The correct answer is b)

1. Demand for land:

a) inelastic

b) elastic

c) absolutely inelastic

d) absolutely elastic

Correct answer: b)

1. Establish a correspondence between the economic category and its definition:

Economic Real Nominal

rent interest rate interest rate

1. Interest rate from

adjusted for inflation

2. Price for using land

3. Interest rate expressed

in monetary units according to

current rate

Correct answer: 1B; 2A; 3B

1. Land supply:

a) absolutely inelastic

b) absolutely elastic

c) has unit elasticity

Correct answer: a)

1. The “earth” factor means:

a) agricultural land

b) the entire territory of the earth

c) cultivated land areas

d) all the earth, its subsoil and all natural resources on earth

Correct answer: d).

1. Establishing current discounted value is a procedure that allows:

a) eliminate the influence of inflation on the assessment of future income

b) establish the present value of future income

c) establish the amount of bank interest in a given period

d) choose the best investment project

Correct answer: b).

1. The graph of the marginal return of any resource looks like ... a curve (specify in one word)

Correct answer: downward

1. The theory of "human capital":

a) explains the exploitation of less skilled workers by more skilled ones

b) explains differences in wages to different levels of investment in human capital

c) explains the reasons for the differentiation of employee abilities.

Correct answer: b)

1. Business income is:

a) the company's profit

b) income from property

c) income of the factor “entrepreneurial ability”

d) labor income

Correct answer: c).

07/01/08 at 08:04

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Examines facts and aims to eliminate qualitative assessments. It is based only on the actual state of the economy and should contribute to the formation of effective policies aimed at stabilizing various processes in the state.

In other words, this theory is based on a statement of facts. So, positive economic theory studies:

• the consequences that a certain decision of a business entity may lead to;
• the means by which the goal can be achieved;
• the cost of achieving them.

In addition to the above, a positive approach can:

• explain and predict;
• study general economic patterns;
• identify certain (cause-and-effect) or functional connections between certain phenomena.

Positive and theory are opposites of each other. Thus, the normative one, in contrast to the stated aspects of the first theory, is based on the study of qualitative assessments of the economic state of the state. can express a subjective opinion about the necessary state of a particular object.

Positive economics studies the choice of effective ways to satisfy human needs using rational resources. In other words, the theory takes into account the contradiction between resource limitations and the limitlessness of human needs. Thus, positive and normative economic theory performs the function of finding a rational combination of resources in order to obtain the greatest satisfaction of social needs. The next function is practical. It is based on certain knowledge that positive economic theory studies public policy and makes certain recommendations.

Economics and economic theory interact with each other due to the definition of their object of study. Thus, depending on this criterion, the following concepts are considered:

• macroeconomics (economic theory that studies public economics);
• microeconomics (economic theory that studies the behavior of specific business entities).

Depending on the level of economic research (macro or micro), there are certain goals.

• Stability in national production, the dynamics and level of well-being of citizens, the essence of the state, as well as the volume of export operations and the general political situation depend on its volume.
• Stability in prices, which can create conditions for economic predictability, and also help choose the direction for stimulating investment and lending processes. It is also necessary to note the positive impact of this factor on strengthening confidence in the monetary unit functioning in the state, which leads to overall stability in social society.
• Equilibrium in the foreign trade balance.

Economics as a sphere of social activity.
Subject and functions of economic theory.
Economic goals of society.
Methods of economic science. Positive and normative economic theory.
Main directions of economic theory (schools of economic theory).

Economics as a sphere of social activity

Economics is a sphere of society that creates the material base for this society. The economy most often refers to real economic activity (production, exchange, distribution and consumption of goods).
Economics studies various aspects of the life of society in conditions of insufficient resources
As a result of development, society created various goods and services. Material production has always been the basis for the development of society. Manufacturing is the main component of any economy.
There are material and intangible production.
Material production is the production of tangible objects. Intangible production is the service sector.

Economics is one of the prerequisites for social life, along with culture and religion, and performs the following functions inherent in it:
production - creating the necessary conditions for the activities of the company;
transactional (exchange function) - due to the impossibility of satisfying all the needs of society within the framework of one economy or enterprise;
redistributive - involves the redistribution of funds received in the sphere of material or intangible production through the state budget system into the sphere of social security, health care and education.

Subject and functions of economic theory

Economic theory is a social science that studies economic relations and laws in the process of production, distribution, exchange and consumption of goods and services, as well as human economic activity in order to increasingly satisfy needs with limited resources.
When studying economic theory as a science, economic categories are used.
Economic categories are abstract expressions of social production relations and their interrelations (for example: goods, money, good, utility, demand, supply, price, finance, credit, etc.)
The subject of economic theory are economic relationships in society regarding the satisfaction of needs in conditions of severely limited resources.
Resource limitation in economic theory refers to the low availability or insufficiency of natural, human and material resources (resource limitation = rarity of resources).
Economic theory does not study resources as such, but the behavior of people in relation to them.
Resources are: natural, human and material.
Natural - represent everything that surrounds us (earth, water, flora and fauna, air, sun, etc.).
Humans are the entire working population.
Material assets are everything that is created by man (including all production resources (machines, mechanisms, tools, buildings and structures), as well as intangible assets (patents, licenses, permission to use any invention).

From the point of view of the objects of research, the following sections of economic theory are distinguished:
microeconomics - studies the behavior of business entities (enterprise, household, firm) and processes in the markets for goods and services;
macroeconomics - studies the national economy as a whole and economic processes occurring at a given level (national income, inflation, employment);
mesoeconomics - studies the economy at the regional level or by industry;
world economy - studies the interaction between national economies.

Functions of economic theory:
cognitive - consists of studying economic phenomena and patterns according to which the economy develops, and this function also formulates the principles on which any economy is based;
methodological - lies in the fact that the identified patterns and principles serve as the foundation for other economic sciences;
practical (applied) - lies in the fact that the identified patterns can be used in practical human activities. This primarily concerns forecasting and planning in economic policy. Based on forecasts, economic models of social development are built.

Economic goals of society
To achieve goals, economic theory solves the fundamental question of economics: WHAT, HOW AND FOR WHOM TO PRODUCE?
The question is what? associated with material production.
The question is how? concerns production technology.
Question for whom? concerns the interests of consumers and their tastes.
The main problem in economics that leading economists are trying to solve is limited resources with unlimited needs.
All economic goals of society are achieved through the fullest use of resources.

Economic goals of the society:
economic growth - the sustainability of economic growth can be used to judge the “economic health” or “ill health” of any society.
Economic growth refers to the growth of gross domestic product (GDP), and the problem of growth comes down not to quantity, but to the quality of its constituent elements.
achieving economic efficiency - since all resources are limited, they must be combined and used in such a way as to obtain the maximum possible return;
achieving full employment of the working population - a situation in the economy when everyone who wants to work can find a job;
price stability and lack of inflation.
Inflation is a depreciation of the national currency, accompanied (expressed) in an increase in prices for goods and services;
economic freedom - manifested in freedom of consumer choice;
ensuring social justice - implies proper distribution of income and the absence of differentiation (difference on any basis); the gap between high- and low-income groups should not exceed a ratio of 1:6;
social security - is associated with the state’s material provision for the sick, disabled, elderly and other dependents (socially vulnerable segments of the population);
maintaining a solvent balance and the exchange rate of the national currency is due to the fact that the outflow and inflow of capital into the country must be regulated.

Methods of economic theory

Methods of science are principles, approaches, forms and ways of knowing.
Among all the methods used in economic theory, general scientific and specific ones can be distinguished:

General scientific - used in all sciences. These include:
method of scientific abstraction - consists of highlighting the most significant aspects of the phenomenon being studied and abstracting from everything unnecessary and unimportant, i.e. attention is drawn to those facts that are directly related to the object being studied;
method of analysis - during analysis, an object (phenomenon) is divided into its component elements, each of which is subjected to detailed study;
synthesis method - during synthesis, the analyzed elements are combined (combined) into a single whole and thus the internal connection between the elements is found and contradictions between them are revealed;
induction method - a method that represents the movement of thought from a particular conclusion to a general one (i.e. from facts to hypothesis).
deduction method - a method that represents the movement of thought from a general conclusion to a particular one (i.e., from a hypothesis to facts confirming it).
method of systems approach - involves the interpretation of an economic object as a system of some (certain) models.

Private methods:
method of economic experiment,
modeling method,
statistical,
mathematical,
historical, etc.

Positive and normative economics

Positive economic theory studies those facts and phenomena that exist now (in fact), i.e. examines the actual state of the economy (answers the question - what is there?).
Normative economic theory embodies the value judgments of individuals (groups of individuals) regarding what the economy should be or what specific political action should be recommended (answers the question - how (what) should it be?).

C modern trends in economic theory (schools of economic theory)
Schools, directions,	Representatives	Formation period	Key ideas
Mercantilism	Thomas Mun (1571-1641), Englishman	16th - 17th centuries	1. The main wealth of society is money (gold, silver) . 2. The source of wealth is the sphere of circulation (trade and money circulation). 3. Wealth accumulates as a result of foreign trade (exports must be greater than imports)
Physiocrats	François Quesnay, (1694-1774), Frenchman	18th century.	1. The wealth of a nation is the product produced in agriculture. 2. The first attempts to derive the increase in wealth from the production process (in this case, agriculture), rather than circulation.
English classical political economy	William Petty (1623-1687), Adam Smith (1723-1790), David Ricardo (1772-1823), English	17th - 19th centuries	1. Wealth is created in material production, not in the sphere appeals. 2. The main source of wealth is labor. 3. The foundations of the labor theory of value are laid.
Marxism	Karl Marx (1818-1883), Friedrich Engels (1820-1895), Germans	From the mid-19th century.	1. The theory of value and the theory of surplus value have been developed. 2. The law of value was discovered as the basis for the development of commodity production. 3. The theory of reproduction and economic crises has been developed. 4. The laws of the capitalist mode of production were discovered
Marginalism	Carl Menger (1840-1921,), Friedrich von Wieser (1851-1926), Eugenia Böhm-Bawerka (1851-1914), Austrians,	Late 19th century - 30s 20th century	1. The subject of the study is consumption (demand). 2. The theory of marginal utility has been developed. 3. The usefulness of a product was recognized as a psychological characteristic from the perspective of a specific person.
Neoclassical direction	Alfred Marshall (1842-1924), Englishman	Since the end of the 19th century.	1. A market system with a predominance of private enterprise, capable of self-regulation and maintaining economic balance. 2. The state creates unfavorable conditions for the functioning of a market economy. 3. The theory of supply and demand and equilibrium price has been developed.
Keynesianism	John Maynard Keynes (1883-1946), Englishman	Since 1930	1. The state must actively regulate the economy, because the market is not capable of ensuring socio-economic stability. 2. The state must regulate through fiscal and monetary policies, eliminating crises, ensuring full employment and high production growth. 3. The theory of effective demand and the theory of effective investment have been developed.
Neoclassical synthesis	John Hicks (1904-1989), Paul Samuelson (1915-2009), Americans	Since 1950	1. Depending on the development of the economy, it is proposed to use either Keynesian recommendations government regulation, or recipes from economists who take the position of limiting government intervention in the economy. 2. The best regulator is monetary methods. 3. The market mechanism is capable of establishing a balance between supply and demand, production and consumption.
New Institutional Economics	Ronald Coase (b. 1910), Douglas North (b. 1920), Oliver Williamson (born 1932)	Since 1980	1. Transaction cost theory, 2. Property rights theory, 3. The theory of opportunistic behavior, 4. Public choice theory, 5. The theory of bounded rationality

The concept of “institutionalism” includes two aspects.
Firstly, these are customs, traditions, norms of behavior accepted in society - “institutions”.
Secondly, it is the consolidation of norms and customs in the form of laws, organizations, institutions, that is, “institutions.”
Institutions are the forms and boundaries of human activity. They represent political organizations, forms of entrepreneurship, and systems of credit institutions. These are tax and financial legislation, social security organization related to business practices.
The institutional approach means the analysis of not only economic categories and processes in their pure form, but also institutions and external economic factors. It is important not just to regulate economic processes, but to change the picture of economic development. The theory of public management should be part of the economic doctrine. Science should not be limited to the study of functional dependencies, and government regulation should be reduced only to maintaining competitive conditions. This is too narrow an approach. The problems of the evolution of economic systems, revealing the mechanism of ongoing changes, should be in the foreground.

The economy is a complex system with several levels. Although all levels are interconnected and interdependent, the principles of functioning of family farms, enterprises and industries differ from the laws of development of the economy as a whole. In this regard, economic theory examines the problems of efficient use of limited resources at different levels.

· Microeconomics explores the interests of business entities, entrepreneurs, businessmen, workers, their needs and motives, market demand and consumer behavior, etc. In other words, microeconomics deals with the laws of functioning of individual subjects in a market economy, studies prices and production volumes in individual markets, factors of supply and demand for individual goods, and features of the behavior of firms in different types of market structures.

· Macroeconomics examines the economic system in the national economy as a whole, considers total (aggregated) indicators of income, employment, price dynamics, and determines the directions of the state’s economic policy. It operates with such categories as aggregate demand and aggregate supply, national income, financial system, inflation, state budget, macroeconomic proportions and their regulation.

· Mesoeconomics, or medium level(the term began to be used relatively recently), involves the study of the laws of functioning of certain subsystems of the national economy in the territorial (region, region, city, district, etc.) or sectoral (industry, agricultural sector, military-industrial complex, etc.) section.

· Megaeconomy, or otherwise - world economy, – explores the most important forms of international economic relations (directly international production, labor migration, capital migration, international monetary relations, international trade).

When studying economic phenomena and processes, positive and normative analysis are used. Accordingly, they distinguish positive And normative economics. If positive economics studies phenomena as they are (or what actually is, the actual state of affairs), then normative economics presupposes the presence of value judgments, ideas about how things should be.

An example of a positive (factual) statement: “If the national currency depreciates, this will contribute to the growth of exports.” An example of a normative (evaluative) statement: “Student scholarships should not be below the subsistence level.”

Features of economic knowledge.
Economic categories, laws, patterns

In economics, as in other spheres of social life, certain objective connections, principles, dependencies and patterns appear, which are revealed by economic theory. Any theory (including economic) is an expression in a system of categories, concepts and laws of relationships and processes of the objective world.

Economic categories– these are logical concepts that reflect in a generalized form the most essential aspects (conditions) of the economic life of society. Categories express individual forms of existence, conditions of existence, and characterize individual aspects of the development of a system of economic relations. In our daily life, we constantly encounter many economic categories, sometimes without even thinking about it: goods, money, prices, income, expenses, budget (including family budget), wages, profit, interest, productivity, etc. .

Cognizing the essence of economic categories, economic theory comes to the definition of economic laws, the study of which is the task of science.

Any law is a necessary essential relationship between phenomena or processes, an expression of the internal connection between them.

There are “natural” (natural) and “social” (social) laws. Social laws include economic laws.

Distinctive features of economic laws:

They are the laws of development of social life, economic activity of people;

Are of a historical nature;

May not correspond to the interests of certain groups of people or classes;

Their action does not occur on its own, but is mediated by the activities of people, so they appear as trends.

Economic laws– these are the dependencies that arise between economic phenomena or processes, expressing their essential nature. Economic dependence, which takes on the status of economic law, is characterized by necessity, stability and repetition.

The interaction of economic categories and laws is realized in economic regularity, which is considered as a trend, an expression of a certain direction in the development of economic processes and phenomena.