CHOOSE THEW BEST ANSWER. NO EXPLANATION NEEDED

16) The currency is:

a) any object used to acquire a product in a market

b) the common medium of exchange and standard for setting prices in the markets

c) dollars and cents, ATM, Visa and Checks

d) the Yen, Euro, Bolvares, Cruceiros and Pesos

17) The distinctive characteristics of the market are:

a) use of advanced technology, specialization and money as a medium of exchange

b) use of lies, opportunism and there is always a sucker

c) use of efficiency, incentives and low prices

d) use of the specials, the vintage offers and the cheap quilt

18) Market determinants

a) What and how much to produce, tastes and preferences, how to produce, for whom, expectations

b) What and how much to produce, self-interest, how to produce and freedom of purchase

c) What and how much to produce, amount of income, how to produce and amount of resources

d) What and how much to produce, for whom to produce, how to produce, expectations, and the economic cycle

19) The determinant of the market: For whom to produce? it means

a) to distribution channels and the media

b) to merchants and buyers

c) to the packaging, wrapping and labels of the product

d) to consumer tastes and those willing to buy products in a market

20) The determinant market expectation refers to

a) freedom of choice, freedom of enterprise, self-interest, competition

b) to past events that will affect the current economic cycle

c) to future events of the economic cycle: stability, growth and recession

d) What and how much to produce, for whom, expectations, how to produce and the economic cycle

21) The forces that govern competition

a) freedom of choice, freedom of enterprise, self-interest, competition

b) efficiency, incentives, personal freedom and acting free from coercion

c) adoption of production techniques, cost reduction, low price level

d) what and how much to produce, for whom, expectations, how to produce and the economic cycle

22) The product doctrine in a competitive market

a) the consumer obliges the adoption of efficient production techniques

b) the consumer favors the largest quantity of products and a low price

c) the consumer favors quality products, amenities and performance

d) the consumer looks for a high price and a low quantity