Defined as the market value of final products produced within the country
The correct answer is: Gross Domestic Products
11:30
The study of how society manages its scarce resources.
The correct answer is: Economics
11:30
What is the study of economic behavior and decision making of small units, such as
individuals, families, and businesses called?
The correct answer is: Microeconomics
11:31
This is the authoritative system wherein decision-making is centralized in the government or a
planning committee. This kind of economy holds true in dictatorial, socialist, and communist
nations
The correct answer is: Command Economy
11:31
A condition where there are insufficient resources to satisfy needs and wants of a population.
The correct answer is: Scarcity
11:37
A field that applies of economic theories and principles to real-world situations with the
desired aim of predicting potential outcomes.
Select one:
a. Economic Theory
b. Applied Economics
c. Economics
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The correct answer is: Applied Economics
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A field that applies of economic theories and principles to real-world situations with the
desired aim of predicting potential outcomes.
Select one:
a. Macroeconomics
b. Applied Economics
c. Social Science
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The correct answer is: Social Science
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__________________ are the producing units in the economy.
Select one:
a. Consumer
b. Producer
c. Firm
d. Household
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The correct answer is: Household
Question 4
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What can happen in a planned economy that does not happen in a market economy?
Select one:
a. There can be international trade.
b. There can be full employment of factors of production.
c. There can be inflation.
d. The allocation of resources can take account of the total effects on society.
Feedback
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The correct answer is: The allocation of resources can take account of the total effects on
society.
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Which of the following is a factor of production?
Select one:
a. The profit declared by a company in its annual report
b. The taxes paid to the government
c. The payment of interest on a bank loan
d. The skill of the managers of a business
Feedback
Your answer is incorrect.
The correct answer is: The skill of the managers of a business
BILLY JAMES FELISILDA
11:40
When graphing supply and demand, price is always on which axis
Select one:
a. Horizontal
b. Vertical
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The correct answer is: Vertical
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The Law of Supply states:
Select one:
a. as prices decrease, supply increases
b. as price decreases, quantity demanded decreases
c. as price increases, supply increases
d. as price increases, quantity demanded decreases
Feedback
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The correct answer is: as price increases, supply increases
Question 3
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The supply curve always slopes in what direction?
Select one:
a. Up
b. Down
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The correct answer is: Up
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Which of the following is not a component of demand?
Select one:
a. Desire
b. Surplus
c. Ability
d. Willingness
Feedback
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The correct answer is: Surplus
Question 5
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Which of the following is not a component of Demand?
Select one:
a. Ability
b. Desire
c. Surplus
d. Willingness
Feedback
Your answer is correct.
The correct answer is: Surplus
BILLY JAMES FELISILDA
11:45
The state of balance when demand is equal to supply.
Answer:
Equilibrium
Feedback
The correct answer is: Equilibrium
Question 2
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Which one of the following is the best explanation of market equilibrium?
Select one:
a. Where price equals supply
b. Where markets for goods equal markets for services
c. Where market supply equals market demand
d. Where price equals demand
Feedback
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The correct answer is: Where market supply equals market demand
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A table showing how much of a good or service consumers will want to buy at different prices
Answer:
SUPPLY
Feedback
The correct answer is: Demand Schedule
Question 4
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shortages occur when the quantity demanded exceeds the quantity supplied. When the
market price is held below the equilibrium price.
Select one:
a. Substitute
b. Shortage
c. Demand Schedule
d. Normal Goods
Feedback
Your answer is correct.
The correct answer is: Shortage
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The actual amount of a good or service people are willing to sell at some specific price.
Select one:
a. Quantity Supplied
b. Positive Economics
c. Supply Schedule
d. Demand Schedule
Feedback
Your answer is incorrect.
The correct answer is: Quantity Supplied
11:58
It is the measure of how much buyers and sellers respond to changes in market conditions.
Answer:
cross-price elasticity
Feedback
The correct answer is: Elasticity
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If you slow down buying because of a price increase, your demand is
Select one:
a. Normal
b. Elastic
c. Strong
d. Inelastic
Feedback
Your answer is incorrect.
The correct answer is: Elastic
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If you spend a very small proportion of your income on a product, then
Select one:
a. The demand for that product will tend to be price inelastic.
b. The demand for that product will tend to be price elastic.
c. You will wait for a sale before you buy the item.
d. You will stop buying it if the prices rises even a little.
Feedback
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The correct answer is: The demand for that product will tend to be price inelastic.
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When the percentage change in the price exceeds the percentage change in quantity
demanded, then demand is
Select one:
a.
Irrelevant
Irrelevant.
Irrelevant.
b. Elastic.
c.
Inelastic.
d. Unitary elastic.
Feedback
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The correct answer is:
Inelastic.
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Which of the following is an example of a good with inelastic demand?
Select one:
a. Laptop Computers
b. HD Flat Panel TV Sets
c. Life-Saving Medicine
d. Fresh Lobster
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The correct answer is: Life-Saving Medicine
Question 6
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If a good has a lot of substitutes, then its demand will tend to be
Select one:
a. None of this
b. Inelastic
c. Elastic
d. Unitary
Feedback
Your answer is correct.
The correct answer is: Elastic
Question 7
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Mercedes makes a luxury car called the Maybach which sells for approximately $490,000.
base price. One would expect the demand for this product to be...
Select one:
a. Elastic
b. Inelastic
c. None of this
d. Unitary
Feedback
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The correct answer is: Elastic
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If billionaire Bill Gates decides he has to have a Maybach, for him it has demand that
Select one:
a. Inelastic
b. None of This
c. Elastic
d. Unitary
Feedback
Your answer is incorrect.
The correct answer is: Inelastic
Question 9
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Total revenue is defined as
Select one:
a.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
The amount of profit a company makes after paying taxes.
b. The amount of money affected by price elasticity.
c. The amount of profit a company makes.
d. The total amount of money a company takes in for selling its goods
Feedback
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The correct answer is: The total amount of money a company takes in for selling its goods
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A graph that shows a product with elastic demand will tend to be...
Select one:
a. Backward bending.
b. More straight up and down.
c. Finding equilibrium faster.
d. Flatter
Flatter.
Feedback
Your answer is incorrect.
The correct answer is: Flatter
Flatter.
12:35
In a Market structure called 'Monopoly' there will:
Select one:
a. One firm
b. Many Firms
c.
Two Firm
Two firms
d. Few Firms
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The correct answer is: One firm
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Monopoly and Monopolistic Competition mean the same:
Select one:
a. False
b. True
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The correct answer is: False
Question 3
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Tick the boxes that belong to Imperfect competition:
Select one:
a. Perfect
b. Monopoly
c. Monopolistic
d. Monopsony
Feedback
Your answer is correct.
The correct answers are: Monopoly, Monopolistic, Monopsony
Question 4
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The main difference between Oligopoly and duopoly is
Select one:
a. No. of Firms
b. Strong Bariers
c. Similar Products
Similar Products
d. Imperfect Knowledge
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The correct answer is: No. of Firms
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Given the type of business or industry below, identify what kind of market structure it belongs
to.
Ice Cream in the Philippines.
Select one:
a. Monopoly
b. Oligopoly
c. Perfect Competition
d. Monopolistic Competition
Feedback
Your answer is incorrect.
The correct answer is: Oligopoly
12:39
What type of business structure is owned by many people?
Select one:
a. Sole Proprietorship
b. Partnership
c. Corporation
Feedback
Your answer is correct.
The correct answer is: Corporation
Question 2
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What type of business consists of two or more people?
Select one:
a. Sole Proprietorship
b. Corporation
c. Franchise
d. Partnership
Feedback
Your answer is correct.
The correct answer is: Partnership
Question 3
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What kind of business is BEST described by these statements?
I am the only owner of my business.
I take all the risks of doing business.
I keep all the profits.
Select one:
a. Cooperative
b. Sole Propreitorship
c. Corporation
d. Partnership
Feedback
Your answer is correct.
The correct answer is: Sole Propreitorship
Question 4
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A form of business organization that is authorized to act as a legal entity regardless of the
number of owners.
Select one:
a. Corporation
b. Proprietorship
c. Partnership
d. Distributor
Feedback
Your answer is correct.
The correct answer is: Corporation
Question 5
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A person who takes a risk to produce goods and services in search of profit
Select one:
a. Entrepreneur
b. Profiteer
c. Baliff
d. Magistrate
Feedback
Your answer is correct.
The correct answer is: Entrepreneur
12:41
Question 1
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Economic policies for determining the amount of money supply, rates of interest & exchange
rates → Monetary Policy
Select one:
True
False
Feedback
The correct answer is 'True'.
Question 2
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A Latin phrase that means while certain variables change, "all other things remain unchanged."
Select one:
a. Entrepreneurship
b. Ceteris Paribus
c. Microeconomics
d. Microeconomics
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The correct answer is: Ceteris Paribus
Question 3
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Supply curve that shows the quantities offered at various prices BY ALL FIRMS that sell
product in a given market. → Cost of Production
Select one:
True
False
Feedback
The correct answer is 'False'.
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Amount demanded at any given price.
Answer:
Adsdf
Feedback
The correct answer is: Quantity Demanded
Question 5
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Law of supply: suppliers will offer more for sale at _____ prices and less for sale at _____
prices.
Select one:
a. Demand Curve
b. Supply Curve
c. high, low
d. down, up
Feedback
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The correct answer is: high, low
Question 6
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Measure of the way in which the quantity supplied responds to a change in price. → Elasticity
of Demand
Select one:
True
False
Feedback
The correct answer is 'False'.
Question 7
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The mental and physical capacity of workers to produce goods and services
Answer:
sfrg
Feedback
The correct answer is: Labor
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Principle that more will be offered for sale at higher and prices and less at lower prices. → Law
of Supply
Select one:
True
False
Feedback
The correct answer is 'True'.
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What is the measure of how consumers react to a change in price?
Select one:
a. Scarcity
b. Elasticity
c. Marginal
d. Equilibrium Price
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Your answer is incorrect.
The correct answer is: Elasticity
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The branch of economics that studies decision making for the economy as a whole →
Microeconomics
Select one:
True
False
Feedback
The correct answer is 'False'.
Question 11
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What kind of business is BEST described by these statements?
I am the only owner of my business.
I take all the risks of doing business.
I keep all the profits.
Select one:
a. Cooperative
b. Partnership
c. Sole Proprietorship
d. Corporation
Feedback
Your answer is incorrect.
The correct answer is: Sole Proprietorship
Question 12
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An analysis limited to statements that are verifiable
Select one:
a. Inverse Relationship
b. Positive Economics
c. Normative Economics
d. Direct Relationship
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Your answer is incorrect.
The correct answer is: Positive Economics
Question 13
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Occurs when two variables are unrelated → Independent relationship
Select one:
True
False
Feedback
The correct answer is 'True'.
Question 14
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What are the three basic economic questions?
Select one:
a. What?, Where?, Whom?
b. What?, Why?. Whom?
c. What?, How?, Whom?
d. How?, Whom?, When?
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The correct answer is: What?, How?, Whom?
Question 15
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Amount that producers bring to the market at at any given price.
Answer:
Feedback
The correct answer is: Quantity Supplied
Question 16
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The branch of economics that studies, decision making by a single individual, household, firm,
industry, or level of government → Macroeconomics
Select one:
True
False
Feedback
The correct answer is 'False'.
Question 17
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The main difference between Oligopoly and duopoly is
Select one:
a. No. of Firms
b. Similar Products
c. Strong Bariers
d. Imperfect Knowledge
Feedback
Your answer is incorrect.
The correct answer is: No. of Firms
Question 18
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The condition in which human wants are forever greater than the available supply of time,
goods, and resources.
Answer:
Feedback
The correct answer is: Scarcity
Question 19
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What type of business structure is owned by many people?
Select one:
a. Sole Proprietorship
b. Partnership
c. Corporation
Feedback
Your answer is incorrect.
The correct answer is: Corporation
Question 20
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A person who takes a risk to produce goods and services in search of profit
Select one:
a. Profiteer
b. Baliff
c. Entrepreneur
d. Magistrate
Feedback
Your answer is incorrect.
The correct answer is: Entrepreneur
Question 21
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Human-made goods that are used to produce other goods and services
Answer:
Feedback
The correct answer is: Capital
Question 22
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In a Market structure called 'Monopoly' there will:
Select one:
a. Many Firms
b. Two Firms
c. One Firm
d. Few Firms
Feedback
Your answer is incorrect.
The correct answer is: One Firm
Question 23
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List the four market structures in order from least competitive to most competitive.
Select one:
a. Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
b. Monopoly, Monopolistic Competition, Perfect Competition, Oligopoly
c. Perfect Competition, Oligopoly, Monopoly, Monopolistic Competition
d. Oligopoly, Monopoly, Perfect Competition, Monopolistic Competition
Feedback
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The correct answer is: Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition
Question 24
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The study of how society chooses to allocate its scarce resources to the production of goods
and services in order ot satisfy unlimited wants → Microeconomics
Select one:
True
False
Feedback
The correct answer is 'False'.
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Provides a means to clearly show economic relationships in two-dimensional space.
Economic analysis is often concerned with two variables confined to the upper-right
(northeast) quadrant of the coordinate number system.
Answer:
Feedback
The correct answer is: Graphs
Question 26
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Decision making based on extra benefit/cost of an action.
Answer:
Feedback
The correct answer is: Marginal Analysis
Question 27
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Changes in price cause a LARGE change in quantity demanded.
Answer:
Feedback
The correct answer is: Elastic Demand
Question 28
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Amount of money, resources, raw materials, labor, and production it takes to make a good,
item, or service.
Select one:
a. Quantity Demanded
b. Inelastic
c. Cost of Production
d. Elastic
Feedback
Your answer is incorrect.
The correct answer is: Cost of Production
Question 29
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What is the study of economic behavior and decision makings of small units, such as
individuals, families, and businesses called?
Select one:
a. Macroeconomics
b. Economic Statistics
c. Microeconomics
d. Economics
Feedback
Your answer is incorrect.
The correct answer is: Microeconomics
Question 30
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A form of business organization that is authorized to act as a legal entity regardless of the
number of owners.
Select one:
a. Partnership
b. Corporation
c. Distributor
d. Proprietorship
Feedback
Your answer is incorrect.
The correct answer is: Corporation
Question 31
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What are the four factors of production?
Select one:
a. Land, capital, money, entrepreneurs
b. Capital, money, supply, demand
c. Labor, capital, supply, demand
d. Land, capital, labor, entrepreneurs
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The correct answer is: Land, capital, labor, entrepreneurs
Question 32
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The creative ability of individuals to seek profits by taking risk and combining resources to
produce innovative products.
Answer:
Feedback
The correct answer is: Entrepreneurship
Question 33
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Corporations are in business for what?
Select one:
a. Non Profit
b. Stockholders
c. Profit
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The correct answer is: Profit
Question 34
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3 Factors Affecting Elasticity of Demand → Necessity, substituitability, income
Select one:
True
False
Feedback
The correct answer is 'True'.
Question 35
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Extra revenue from the production of one additional unit.
Answer:
Feedback
The correct answer is: Marginal Revenue
Question 36
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Any natural resource provided by nature that is used to produce goods and services
Answer:
Feedback
The correct answer is: Land
Question 37
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Satisfaction or usefulness obtained from acquiring one more unit of a product.
Select one:
a. Marginal Analysis
b. Quantity Supplied
c. Marginal Utility
d. Variable Cost
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Your answer is incorrect.
The correct answer is: Marginal Utility
Question 38
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Monopoly and Monopolistic Competition mean the same:
Select one:
True
False
Feedback
The correct answer is 'False'.
Question 39
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The basic categories of inputs used to produce goods and services.
Answer:
Feedback
The correct answer is: Resources
Question 40
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An analysis based on value judgments or opinions and use words such as good, bad, ought to,
and should.
Select one:
a. Normative Economics
b. Direct Relationship
c. Positive Economics
d. Entrepreneurship
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Your answer is incorrect.
The correct answer is: Normative Economics
Question 41
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What is a payment made by an employer to an employee?
Select one:
a. Interest
b. Profit
c. Marginal
d. Wage
Feedback
Your answer is incorrect.
The correct answer is: Wage
Question 42
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Graph showing the quantities supplied at each and every possible price in the marker.
Select one:
a. Variabale Costs
b. Supply Curve
c. Demand Schedule
d. Supply Schedule
Feedback
Your answer is incorrect.
The correct answer is: Supply Curve
Question 43
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Combination of desire, ability, and willingness to buy a product. → Demand
Select one:
True
False
Feedback
The correct answer is 'True'.
Question 44
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Variable plus fixed costs, all costs associated with production.
Answer:
Feedback
The correct answer is: Total Costs
Question 45
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Demand: shift left=______ in demand.
Select one:
a. Demand
b. Shortagae
c. Inverse Relationship
d. Decrease
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Your answer is incorrect.
The correct answer is: Decrease
Question 46
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What is it called when you have limited quantities of resources used to meet unlimited wants?
Select one:
a. Specialization
b. Scarcity
c. Profit
d. Cartel
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Your answer is incorrect.
The correct answer is: Scarcity
Question 47
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Listing showing the quantity demanded at all possible prices that might prevail in the market at
any given time.
Answer:
Feedback
The correct answer is: Demand Schedule
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Lowest legal price that can be paid for a good or service.
Select one:
a. Fixed Costs
b. Market Economy
c. Price Floor
d. Total Costs
Feedback
Your answer is incorrect.
The correct answer is: Price Floor
Question 49
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Changes in price cause a SMALL change in quantity demanded. -INELASTIC DEMAND
Select one:
True
False
Feedback
The correct answer is 'True'.
Question 50
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What type of business consists of two or more people?
Select one:
a. Franchise
b. Sole Proprietorship
c. Corporation
d. Partnership
Feedback
Your answer is incorrect.
The correct answer is: Partnership
12:56
Porter’s five forces is an industry analysis model. The five forces are: inter rivalry of
competitors, bargaining power of customers, bargaining power of suppliers, threat of new
entrants and what?
Select one:
a. Barriers to Entry
b. Threat of Substitutes
c. Bargaining Power of Consumers
d. Threats of Competitors
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The correct answer is: Threat of Substitutes
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A SWOT analysis is used to analyse an organisation’s current Answer
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The correct answer is: Situation
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In a SWOT analysis, Answer
are external environmental trends that may be advantageous for the organisation in question.
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The correct answer is: Opportunities
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In a SWOT analysis, strengths and weaknesses are external factors.
Select one:
True
False
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The correct answer is 'False'.
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In a SWOT analysis, which two elements are part of the internal environment?
Select one:
a. Strengths and Opportunities
b. Weaknesses and Strengths
c. Strengths and Threats
d. Opportunities and Threats
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Your answer is incorrect.
The correct answer is: Weaknesses and Strengths
12:59
These are goods that can be used in place of another.
Answer:
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The correct answer is: Substitutes
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The one who will distribute the products.
Select one:
a. Customers
b. Suppliers
c. Competition
d. Substitutes
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The correct answer is: Suppliers
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An evaluation of the possible or probable effects of external forces and conditions on the
survival and growth of the business.
Answer:
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The correct answer is: Environmental Analysis
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Who will you sell your product to?
Select one:
a. Customers
b. Competition
c. Substitutes
d. Suppliers
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The correct answer is: Customers
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A business function completed by business owners and other individuals to assess the current
business environment.
Answer:
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The correct answer is: Industry Analysis
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The type of government, the stability and strength of the government, and good leadership are
factors that can be advantage to a business.
Select one:
a. Economic Forces
b. Culture and Lifestyles
c. Political Factors
d. Physical Environment
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The correct answer is: Political Factors
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The study of cultural practices to identify the goods and services that will fit into celebrations
and spending behavior.
Select one:
a. Cultures and Lifestyles
b. Physical Environment
c. Political Factors
d. Economic Forces
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The correct answer is: Cultures and Lifestyles
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Who are the major businesses in the industry?
Select one:
a. Suppliers
b. Customers
c. Substitutes
d. Competition
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The correct answer is: Competition
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This involves a look at economic factors such as income of the people, specifically the target
market, economic conditions such as inflation, recession, prosperity, demand, and supply in
the market.
Select one:
a. Political Factors
b. Cultures and Lifestyles
c. Competitions
d. Economic Forces
e. Physical Environment
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The correct answer is: Economic Forces
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This includes a look at the population size, the geography of the place where business will be
located, land distribution, climate, and in today's global warming situation, whether or not the
area is prone to flood or earthquake.
Select one:
a. Cultures and Lifestyles
b. Economic Forces
c. Political Factors
d. Physical Environment
e. Competition
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The correct answer is: Physical Environment
12:59
Which of the following is part of the circular flow diagram?
Select one:
a. Family
b. Education
c. Cooperations
Cooperations
d. Resources
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The correct answer is: Resources
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What are the firms responsible putting out into the market?
Select one:
a. Resources
b. Goods and Services
c. Household Spending
d. Agriculture
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The correct answer is: Goods and Services
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Which of the following is attached to households on the circular flow diagram?
Select one:
a. Cooperations
b. Goods and Services
c. Farming
d. Stock Market
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The correct answer is: Goods and Services
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Circular flow only moves in one direction, with little to no leakages in the market.
Select one:
True
False
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The correct answer is 'False'.
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The circular flow of a market economy also assumes that consumers spend all their money on
goods, services, and consumption. This means that there is no _________ on the part of the
consumer.
Select one:
a. Investing
b. Managing
c. Borrowing
d. Saving
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The correct answer is: Saving
13:00
Enterprise refers to the human creativity and initiative required to pull together the three other
factors of production and start a business to provide goods and services. It is the combination
of the other three factors of production to make a profit. → Enterprise
Select one:
True
False
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The correct answer is 'True'.
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Service industries do not manufacture physical products but provide services to other
businesses and consumers. E.g. advertising, telecommunications, tourism, music, legal
services. → Service industries
Select one:
True
False
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The correct answer is 'True'.
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An industry is a group of businesses engaged in producing similar goods and services, such as
the tourism, computing and fashion design industries. Industries can be grouped into three
basic sectors of the economy:
- The primary sector
- The secondary sector
- The tertiary sector → Industry
Select one:
True
False
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The correct answer is 'True'.
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Globalization of services: Future growth for Irish service-based industries lies in developing
more international markets for their services. This is already happening in telecommunications,
financial services, software development and advertising and is being made possible through
the use of ICT such as the internet.
- Information and communications technology (ICT) is changing what and how services are
provided. People can buy goods, take out loans and look for information or place orders using
the Internet or telephone. Many businesses have realised that it is cheaper to have people
working from the end of a telephone line in an out-of-the-way location than in expensive, high
rent offices in the centre of a town or city. → Trends and challenges facing the secondary
sector
Select one:
True
False
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The correct answer is 'False'.
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Economic fluctuations: The construction industry is very sensitive to the general level of
economic activity in the economy. When the economy is doing well, construction does well
but when the economy is doing poorly, construction activity and employment can drop
dramatically.
- Employment in manufacturing is declining but output is increasing (i.e. more output is being
produced by fewer people). This is due to increasing productivity arising from the use of new
technologies such as automation, robotics and ICT.
- High labour and other costs have made Irish firms less competitive compared to many
competitors in countries with lower costs.
- Relocation of operations: Declining employment in the secondary sector is being caused by
firms relocating their manufacturing operations to lower cost countries and to be nearer
expanding foreign markets. → Trends and challenges facing the secondary sector
Select one:
True
False
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The correct answer is 'True'.
13:08
To maximize utility, a consumer with a fixed budget will purchase quantities of goods so that
the ratios of the marginal utility of each good to its.
Select one:
a. Price are equal
b. Price are the greatest
c. Price are equal to one
d. Total utility are the greatest
e. Total utility are the same
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The correct answer is: Price are equal
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Describes how consumers make decisions on what to buy Consumption refers to the use of
goods and services to satisfy human wants directly.
Answer:
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The correct answer is: Consumer Behavior
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It refers to the additional utility derived from consuming an additional unit of the good
Answer:
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The correct answer is: Marginal Utility
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The total satisfaction received from consuming a given total quantity of a good or service,
while marginal utility is the satisfaction gained from consuming an additional quantity of a
particular good or service.
Answer:
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The correct answer is: Total Utility
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When total utility is at its maximum, marginal utility is...
Select one:
a. At a maximum marginal utility
b. Increasing
c. Negative
d. At a minimum marginal utility
e. Equal to zero
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The correct answer is: Equal to zero
13:09
Which cost increases continuously with the increase in production?
Select one:
a. Fixed cost.
b. Variable cost.
c. Marginal Cost
Marginal cost.
d. Average cost.
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The correct answer is: Variable cost.
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Output refers to the product created as a result of the combination of input in the production
process.
Select one:
True
False
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The correct answer is 'True'.
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Input refers to the resources used to produce goods and services.
Select one:
True
False
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The correct answer is 'True'.
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The use of economic resources to create goods and services that will be used to satisfy human
wants.
Answer:
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The correct answer is: Production
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External economies go with size and internal economies with location.
Select one:
True
False
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The correct answer is 'True'.