If workers behave in ways consistent with standard economic models, solution(s) to principal-agent problems include... (check all that apply)1 pointFinancial incentivesPeer pressureAutonomyMonitoring

The three principal economic units in any system are…*1 pointA. Trade, industry, and banking.B. workers, consumers and shareholdersC. households, firms and governmentsD. companies, industry, and plants.Mining is an example of_____.*1 pointA. tertiary productionB. primary productionC. secondary productionD. advanced production.A movement along the same demand curve either upwards or downwards as a result of changes in price implies*1 pointA. a change in demandB. a change in quantity demandedC. an increase in demandD. a shift in the demand curve to the right.What are inferior goods? These are goods______.*1 pointA. that are generally in short supplyB. that are no longer in demandC. whose demand falls as income increasesD. whose price falls as demand increasesIn the normal market situation, when the price of a commodity rises, the___________.*1 pointA. demand for the commodity will rise.B. demand for the commodity will fallC. supply of the commodity will be constantD. supply of the commodity will fallThe word “ENDS” in economics means______.*1 pointA. resourcesB. material wellbeingC. human wantsD. end of our wantsThe market price of a commodity is normally determined by the ______.*1 pointA. law of demandB. interaction of the forces of demand and supplyC. total number of people in the marketD. total quantity of the commodity in the market

The principal-agent problem is quite common in large public corporations due to: too little regulation by government. the fact that large corporations generate large sales volumes. the fact that the people making the operational decisions are usually not the owners. the fact that large companies employ many people.

True or false: Principal-agent problems can always be solved by additional monitoring.1 pointTrueFalse

1-4 When economic profit is positive,​a.total revenue exceeds total economic cost.​b.the firm’s owners have successfully solved the principle-agent problem.​c.the firm’s owners experience a decrease in their wealth. ​d. foreign companies experience loss of market share

One characteristic of labour is that it is_____.*1 pointA. fixed in demandB. fixed in supplyC. mobileD. untrainable