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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Most wealthy.
(b) Least wealthy.
(c) Most productive.
(d) Least productive.

2. What does CEO stand for?
(a) Chief Executive Officer.
(b) Continental Energy Options.
(c) Cheap Everpresent Oil.
(d) Civil Engineer's Office.

3. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(a) Derivative.
(b) Exchange rate.
(c) Legislation.
(d) Futures contract.

4. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Belief.
(b) Punishment.
(c) Incentive.
(d) Barrier.

5. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
(a) Inflation.
(b) Subsidy.
(c) Deductible.
(d) Collateral.

Short Answer Questions

1. When was Douglas Ivester born?

2. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

3. What is generally a fungible, negotiable financial instrument representing financial value?

4. What refers to a market where prices are determined by supply and demand?

5. What refers to reasoning which constructs or evaluates deductive arguments?

(see the answer key)

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