need help in economics

1.Which best explains why producers conduct market research?

• Producers are concerned about respecting the cultural values of a diverse group of consumers.
• Producers need to know what consumers want so they can sell more and make more profit.
• Producers want to know what other producers are doing so they can copy efficient production methods.
• Producers are strongly motivated to keep costs low so that their revenues are higher.

2.Which term refers to the personal satisfaction someone gets from consuming goods and services?

• preference
• money
• outcomes
• utility

3.Which is determined by subtracting costs from revenue?

• overhead
• debt
• wages
• profits

4.Which best states the main difference between a monopoly and an oligopoly?

• Oligopolies involve more than one company while monopolies involve only one.
• Neither a monopoly nor an oligopoly presents significant barriers to entering the industry.
• Both monopolies and oligopolies involve a very low level of competition.
• Monopolies have a slightly lower level of market concentration than oligopolies.

5.Which explains why companies spend money on advertising?

• Advertising allows companies to motivate workers to be more efficient.
• Companies want to influence consumer behavior through advertising.
• Interesting advertisements lead to higher circulation and better ratings.
• Media companies can fill empty space by selling advertisements.

6.Which is a characteristic of general partnerships but not limited partnerships?

• stockholders and a board of directors
• an unlimited number of partners
• unlimited liability for all partners
• option to declare bankruptcy without penalty