1. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) The uniform pay scale.
(b) Capitalism.
(c) Supply and demand.
(d) Legislation.

2. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?
(a) The Gaza War.
(b) The Jerusalem War.
(c) The Yom Kippur War.
(d) The Torah War.

3. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $30,000.
(b) $15,000.
(c) $50,000.
(d) $120,000.

4. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Reinstitution of Communism.
(b) Brand recognition.
(c) Freedom for the German people.
(d) World domination.

5. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
(a) Predictability.
(b) Security.
(c) Index.
(d) Recession.

Short Answer Questions

1. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?

2. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?

3. What does OPEC stand for?

4. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

5. When was Douglas Ivester born?

(see the answer key)

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