1/12/2012 PROGRAM NAME: Associate in Applied Science Degree in Business Administration – Accounting Technology, Business Administration, Entrepreneurship, Management, and Real Estate Sales and Management, and including a short certificate in Entrepreneurship 2009/10 PROGRAM EVALUATION PLAN CALHOUN COMMUNITY COLLEGE UNIT PURPOSE AND DESCRIPTION: (What is the role of your unit within the College?) The Business Administration Program provides education and training opportunities for students who are interested in pursuing business careers in accounting (financial or managerial), business administration, entrepreneurship (self-employment in the small business sector), management (small business sector) and real estate sales and management. This program is also appropriate for students who are employed and who wish to upgrade their business skills and knowledge. RLS101 Real Estate Principles (as approved by the Alabama Real Estate Commission) is a pre- licensure course for those interested in selling real estate. This program is not designed for transfer, although some of the courses may transfer to some senior institutions ALIGNMENT OF PROGRAM OUTCOMES WITH THE INSTITUTION’S MISSION STATEMENT AND THE PLAN FOR STUDENT SUCCESS: The mission of Calhoun Community College is to provide quality, innovative instruction and promote community development and cultural enrichment by (1) ensuring open access, (2) providing responsive student support services, (3) valuing diversity, (4) integrating assessment, accountability and improvement, (5) assuring a safe environment, (6) promoting lifelong learning, (7) securing partnerships for economic development, (8) facilitating research efforts to meet workforce development needs, and (9) supporting professional development. The Business Administration program purpose assigns with items (4), (6), (8) and (9) of the College’s Mission Statement.
Transcript
1/12/2012
PROGRAM NAME: Associate in Applied Science Degree in Business Administration – Accounting Technology, Business Administration, Entrepreneurship, Management, and Real Estate Sales and Management, and including a short certificate in
Entrepreneurship 2009/10 PROGRAM EVALUATION PLAN
CALHOUN COMMUNITY COLLEGE
UNIT PURPOSE AND DESCRIPTION: (What is the role of your unit within the College?) The Business Administration Program provides education and training opportunities for students who are interested in pursuing business careers in accounting (financial or managerial), business administration, entrepreneurship (self-employment in the small business sector), management (small business sector) and real estate sales and management. This program is also appropriate for students who are employed and who wish to upgrade their business skills and knowledge. RLS101 Real Estate Principles (as approved by the Alabama Real Estate Commission) is a pre-licensure course for those interested in selling real estate. This program is not designed for transfer, although some of the courses may transfer to some senior institutions
ALIGNMENT OF PROGRAM OUTCOMES WITH THE INSTITUTION’S MISSION STATEMENT AND THE PLAN FOR STUDENT SUCCESS:
The mission of Calhoun Community College is to provide quality, innovative instruction and promote community development and cultural enrichment by (1) ensuring open access, (2) providing responsive student support services, (3) valuing diversity, (4) integrating assessment, accountability and improvement, (5) assuring a safe environment, (6) promoting lifelong learning, (7) securing partnerships for economic development, (8) facilitating research efforts to meet workforce development needs, and (9) supporting professional development. The Business Administration program purpose assigns with items (4), (6), (8) and (9) of the College’s Mission Statement.
1/12/2012
PROGRAM NAME: Associate in Applied Science Degree in Business Administration – Accounting Technology, Business Administration, Entrepreneurship, Management, and Real Estate Sales and Management, and including a short certificate in
Entrepreneurship 2009-10 PROGRAM EVALUATION PLAN
CALHOUN COMMUNITY COLLEGE
Competency Area
Student Learning
Outcome
Methods of
Evaluation or
Assessment
Evaluation or
Assessment
Standards
Assessment Results
Explain how
results were used
to improve student
learning,
curriculum, or
program.
Business Principles
Business
Communication
Upon completion of
the Business
Administration
Program, students
will have an
understanding of
business principles
including planning,
organizing, staffing,
directing and
controlling.
Upon completion of
the Business
Administration
Program, students
will create a written
resume with a cover
letter.
BUS 275 Final Exam
Student Resumes with
Cover Letter
Completing this
course, students take
the final exam. At
least 70% of the
Business
Administration
students will score
70% or better on the
final exam. A copy of
the BUS275 is
attached.
At least 70% of
Business
Administration
Students will produce
a completed resume
and cover letter with a
score of 70 or better.
The scoring rubric is
attached.
Analysis of data
shows that 62.5% of
the Business
Administration
students scored 70%
or better on the final
exam. This
measurement is 7.5
points below the
expected metric of
70%. Only one
section of this class
was taught.
Analysis of data
shows that 85.39% of
the Business
Administration
students scored 70%
or better on the
Resume with Cover
letter. This
measurement is less
than 1 point below the
expected metric of
Results of the final
exam for individual
students and sections,
were disseminated to
all Business faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
Results of the graded
resume and cover
letter for individual
students and sections,
were disseminated to
all Business faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
1/12/2012
Accounting Skills
Economics
Upon completion of
the Business
Administration
Program, students
will be able to
complete the
accounting cycle.
Upon completion of
the Business
Administration
Program, students
will demonstrate an
understanding
fundamental
economic principles
and current economic
conditions.
Graded Bus 241
Comprehensive
Project that includes a
complete business
accounting cycle (also
known as a practice
set in accounting).
The use of 10
standard questions on
the ECO 232 post-test
which address
awareness of core
economic principles
and current economic
events. A copy of the
post-test and grading
rubric is attached.
At least 70% of
Business
Administration
Students will
complete an
accounting project
encompassing one
complete business
accounting cycle with
a score of 70% or
better.
At least 70% of
Business
Administration
Students will answer
70%, or more, of the
selected questions
correctly.
70%
Analysis of data
shows that 98.51% of
the Business
Administrations
students scored 70%
or better on the
Accounting
Comprehensive
Project
Analysis of data
shows that 58% of the
Business
Administration
students scored 70%
or better on the
Economics
Microeconomics
Post-test. This
measurement is 12
points less than the
expected metric of
70%
Results show that our
students are
exceeding the desired
metric by over 28
points. These results
were shared with the
BUS241 faculty at the
end of each semester.
This information was
used to revise and
improve course
instruction.
Results of the
posttest, for
individual students
and sections, were
disseminated to all
Economics faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
1/12/2012
BUS275 Final Exam 2009-2010 Results
Percentage Frequency
Scored > =70% 62.5 10
Scored < 70% 37.5 5
This data is based upon a single class. This was the only section offered.
0 10 20 30 40 50 60 70
Scored >=70%
Scored < 70%
Percentage
1/12/2012
BUS215 Resume Grade Results for 2009-2010
Percentage Frequency
Scored >=70% 69.09 76
Scored < 70% 30.91 13
This data is based upon 4 sections taught by two instructors.
0 10 20 30 40 50 60 70 80
Scored >=70%
Scored < 70%
Percentage
1/12/2012
BUS241 Comprehensive Project Results for 2009-2010
Percentage Frequency
Scored >=70 98.51 198
Scored <70 1.49 3
Didn't do the assignment
59
This data is based upon 10 sections taught by three instructors
98.51
1.49
0 20 40 60 80 100 120
Scored >=70
Scored <70
Percentage
1/12/2012
Economics Post-Test Results for 2009-2010
Percentage Frequency
Scored >=70% 58% 138 Scored < 70% 42% 98
This data is based upon 10 Sections and 5 instructors.
0% 10% 20% 30% 40% 50% 60% 70%
Scored >=70%
Scored < 70%
Percentage
1/12/2012
BUS275 Final Exam with Scoring Rubric
Grade Test: Final Exam: Chapters 1 - 19
Assign a grade and feedback for the current test attempt. When available, click Save and Next or use the arrow buttons to navigate through or
grade the attempts in the queue one at a time. If no grade is assigned to the attempt, clicking Save and Next will not change the status of the
attempt. If multiple attempts for a test have been allowed, a Student's grade is not released until all of the attempts have beeen graded. Click
Hide User Names to grade attempts anonymously. Click Show User Names to display user information. More Help
Test Information
Status Completed
Score 100 out of 115 points
Time Elapsed 1 hour, 40 minutes out of 2 hours.
Started Date 12/13/11 12:07 PM
Submitted Date 12/13/11 1:48 PM
Instructions
Clear Attempt Clear Attempt Click Clear Attempt to clear this user’s attempt.
Question 1: Multiple Choice
For the video that was viewed in class, the lecturer's name is
Core Questions from the Economics 232 Pre-/Post-Test
1. What is the opportunity cost of buying a new car?
a) The value of other goods and services you could have purchased with the money you spent on the car
b) The price you paid for the car
c) The cost of operating and maintaining the car
d) The difference between the price of the car and the price of a used car
2. Joe’s Pizza Company faces a demand for its pizzas which obeys the “law of demand.” This means if Joe lowers the price he charges per pizza
a) he will sell more pizzas.
b) he will sell fewer pizzas.
c) his profit will rise.
d) his profit will fall.
3. Which of the following would cause a shortage?
a) A price ceiling set below the equilibrium price.
b) A price ceiling set above the equilibrium price.
c) A price floor set below the equilibrium price.
d) A price floor set above the equilibrium price.
4. In order to increase tax revenue, the government should
a) raise taxes on goods with elastic demands.
b) raise taxes on goods with inelastic demands.
c) raise taxes on luxury items purchased mostly by the wealthy.
d) place equal taxes on all goods.
5. Marginal utility refers to the
a) additional satisfaction from consuming the last unit of a good.
b) additional profit generated by the last unit of a good sold.
c) benefit derived from all units of a good consumed.
d) opportunity cost of a good.
1/12/2012
6. Stephanie's Waterbeds faces the demand shown below for its beds. Each bed costs $300 to produce (no matter how many are made). If Stephanie charges $700 per waterbed, how much total profit will she earn?
Price (per bed) Quantity Demanded
$1000 1
$900 2
$800 3
$700 4
$600 5
a) $2800.
b) $2500.
c) $1600.
d) $1200.
7. Which of the following is necessary for perfectly competitive markets to exist?
a) A high level of advertising.
b) Barriers to entry for new firms.
c) A few firms have large shares of the market.
d) Firms with products that are perfect (identical) substitutes for each other.
8. Which of the following would reduce monopoly power in an industry?
a) Reducing the length of copyrights and patents.
b) Mergers between existing firms.
c) Allowing collusion between existing firms.
d) Strengthening licensing requirements in a profession.
9. Price discrimination
a) only occurs in competitive markets.
b) almost always is illegal in the United States.
c) is beneficial to some consumers.
d) reduces producers’ profits.
10. A public good is characterized by which of the following?
a) People who do not pay for the good can be excluded from using it.
b) If one person uses the good, it does not reduce its usefulness to others.
c) It is easy to determine who should pay the cost of the good.
d) All the above are characteristic of a public good.
1/12/2012
Grading Rubric for the ECO232 Post-Test 1(a) 2(a) 3(a) 4(b) 5(a) 6(c) 7(d) 8(a) 9(c) 10(b)
1/12/2012
PROGRAM NAME: Associate in Applied Science Degree in Business Administration – Accounting Technology, Business Administration, Entrepreneurship, Management, and Real Estate Sales and Management, and including a short certificate in
Entrepreneurship 2010-11 PROGRAM EVALUATION PLAN
CALHOUN COMMUNITY COLLEGE
Competency Area
Student Learning
Outcome
Methods of
Evaluation or
Assessment
Evaluation or
Assessment
Standards
Assessment Results
Explain how
results were used
to improve student
learning,
curriculum, or
program.
Business Principles
Business
Communication
Upon completion of
the Business
Administration
Program, students
will have an
understanding of
business principles
including planning,
organizing, staffing,
directing and
controlling.
Upon completion of
the Business
Administration
Program, students
will create a written
resume with a cover
letter.
BUS 275 Final Exam
Student Resumes with
Cover Letter
Completing this
course, students take
the final exam. At
least 70% of the
Business
Administration
students will score
70% or better on the
final exam.
At least 70% of
Business
Administration
Students will produce
a completed resume
and cover letter with a
score of 70 or better.
The scoring rubric is
attached.
81% of the Business
Administrations
students scored 70%
or better on the final
exam. This is an
improvement of 19.5
points from the
previous year when
we did not meet our
70% metric.
93.02% of the
Business
Administration
students produced a
completed resume and
cover letter with a
score of 70% or
better. This is an
improvement from the
previous year when
we did not meet our
70% metric.
Results of this student
success were
disseminated to all
Business faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
Results of this student
success were
disseminated to all
Business faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
1/12/2012
Accounting Skills
Economics
Upon completion of
the Business
Administration
Program, students
will be able to
complete the
accounting cycle.
Upon completion of
the Business
Administration
Program, students
will demonstrate an
understanding
fundamental
economic principles
and current economic
conditions.
Graded Bus 241
Comprehensive
Project including a
complete business
accounting cycle
(known as a practice
set in accounting).
The use of 10
standard questions on
the ECO 232 post-test
which address
awareness of core
economic principles
and current economic
events.
At least 70% of
Business
Administration
Students will
complete an
accounting project
encompassing one
complete business
accounting cycle with
a score of 70 or better.
At least 70% of
Business
Administration
Students will answer
70%, or more, of the
selected questions
correctly.
95.64% of the
Business
Administration
Students who
completed the
Comprehensive
Project scored 70% or
better.
71% of the Business
Administration
students scored 70%
or better on the
Economics Post-Test.
Results of this student
success were
disseminated to all
Business faculty at
the end of each
semester. This
information was used
to revise and improve
course instruction.
This is an
improvement from the
last academic year
(62%), Results of this
metric were
disseminated to all of
the Economic
instructors to use to
revise and improve
course instruction
1/12/2012
BUS 275 Final Exam results for 2010-2011 Academic Year
Percentage Frequency
Scored >= 70% 81 70
Scored < 70% 19 18
This data is based upon 5 sections taught by 3 instructors
0 20 40 60 80 100
Scored >= 70%
Scored < 70%
Percentage
1/12/2012
BUS215 Resume/Cover Letter results for 2010-2011 Academic Year
Percentage Frequency
Scored >= 70% 93.02 79
Scored < 70% 6.98 31
This data is based upon 5 sections taught by 3 instructors.
0 20 40 60 80 100
Scored >= 70%
Scored < 70%
Percentage
1/12/2012
BUS241 results for 2010-2011 Academic Year
Percentage Frequency
Scored >=70 95.64 307 Scored < 70 4.36 14 Did not complete the Project 97
This data is based upon 16 sections taught 5 instructors.
0 20 40 60 80 100 120
Scored>=70
Scored <70
Percentage
1/12/2012
ECO232 Post-test Results for 2010-2011 Academic Year
Percentage Frequency
Scored >=70% 71 75
Scored < 70% 29 30
0 10 20 30 40 50 60 70 80
Scored >=70%
Scored < 70%
Precentage
1/12/2012
BUS275 Final Exam and Scoring Rubric Grade Test: Final Exam: Chapters 1 - 19
Assign a grade and feedback for the current test attempt. When available, click
Save and Next or use the arrow buttons to navigate through or grade the
attempts in the queue one at a time. If no grade is assigned to the attempt,
clicking Save and Next will not change the status of the attempt. If multiple
attempts for a test have been allowed, a Student's grade is not released until all
of the attempts have beeen graded. Click Hide User Names to grade attempts
anonymously. Click Show User Names to display user information. More Help
Test Information
Status Completed
Score 100 out of 115 points
Time Elapsed 1 hour, 40 minutes out of 2 hours.
Started Date 12/13/11 12:07 PM
Submitted Date 12/13/11 1:48 PM
Instructions
Clear Attempt Clear Attempt Click Clear Attempt to clear this user’s attempt.
Question 1: Multiple Choice
For the video that was viewed in class, the lecturer's name is
Core Questions from the Economics 232 Pre-/Post-Test
1. What is the opportunity cost of buying a new car?
a) The value of other goods and services you could have purchased with the money you spent on the car
b) The price you paid for the car
c) The cost of operating and maintaining the car
d) The difference between the price of the car and the price of a used car
2. Joe’s Pizza Company faces a demand for its pizzas which obeys the “law of demand.” This means if Joe lowers the price he charges per pizza
a) he will sell more pizzas.
b) he will sell fewer pizzas.
c) his profit will rise.
d) his profit will fall.
3. Which of the following would cause a shortage?
a) A price ceiling set below the equilibrium price.
b) A price ceiling set above the equilibrium price.
c) A price floor set below the equilibrium price.
d) A price floor set above the equilibrium price.
4. In order to increase tax revenue, the government should
a) raise taxes on goods with elastic demands.
b) raise taxes on goods with inelastic demands.
c) raise taxes on luxury items purchased mostly by the wealthy.
d) place equal taxes on all goods.
5. Marginal utility refers to the
a) additional satisfaction from consuming the last unit of a good.
b) additional profit generated by the last unit of a good sold.
c) benefit derived from all units of a good consumed.
d) opportunity cost of a good.
1/12/2012
6. Stephanie's Waterbeds faces the demand shown below for its beds. Each bed costs $300 to produce (no matter how many are made). If Stephanie charges $700 per waterbed, how much total profit will she earn?
Price (per bed) Quantity Demanded
$1000 1
$900 2
$800 3
$700 4
$600 5
a) $2800.
b) $2500.
c) $1600.
d) $1200.
7. Which of the following is necessary for perfectly competitive markets to exist?
a) A high level of advertising.
b) Barriers to entry for new firms.
c) A few firms have large shares of the market.
d) Firms with products that are perfect (identical) substitutes for each other.
8. Which of the following would reduce monopoly power in an industry?
a) Reducing the length of copyrights and patents.
b) Mergers between existing firms.
c) Allowing collusion between existing firms.
d) Strengthening licensing requirements in a profession.
9. Price discrimination
a) only occurs in competitive markets.
b) almost always is illegal in the United States.
c) is beneficial to some consumers.
d) reduces producers’ profits.
10. A public good is characterized by which of the following?
a) People who do not pay for the good can be excluded from using it.
b) If one person uses the good, it does not reduce its usefulness to others.
c) It is easy to determine who should pay the cost of the good.
d) All the above are characteristic of a public good.
1/12/2012
Grading Rubric for the ECO232 Post-Test
1. 1(a)
2. 2(a)
3. 3(a)
4. 4(b)
5. 5(a)
6. 6(c)
7. 7(d)
8. 8(a)
9. 9(c)
10. 10(b)
1/12/2012
PROGRAM NAME: Associate of Applied Science Degree in Business Administration – Accounting Technology, Business Administration, Entrepreneurship, Management, and Real Estate Sales and Management, and including a short certificate in
Entrepreneurship 2011-12 PROGRAM EVALUATION PLAN
Data available for Fall 2011 Only CALHOUN COMMUNITY COLLEGE
Competency Area
Student Learning
Outcome
Methods of
Evaluation or
Assessment
Evaluation or
Assessment
Standards
Assessment Results
Explain how
results were used
to improve student
learning,
curriculum, or
program.
Business Principles
Business
Communication
Upon completion of
the Business
Administration
Program, students
will have an
understanding of
business principles
including planning,
organizing, staffing,
directing and
controlling.
Upon completion of
the Business
Administration
Program, students
will create a written
resume with a cover
letter.
BUS 275 Final Exam
Student Resumes with
Cover Letter
Completing this
course, students take
the final exam. At
least 75% of the
Business
Administration
students will score
70% or better on the
final exam.
At least 75% of
Business
Administration
Students will produce
a completed resume
and cover letter with a
score of 70 or better.
The scoring rubric is
attached.
88.88% of the
Business
Administration
students scored 70%
or better on the final
exam
90.9% of Business
Administration
students scored 70%
or better on the
Resume and Cover
Letter.
This shows a 18.88
point improvement
over the desired
metric and an 8 point
improvement over the
previous year. These
results were
disseminated to all of
the BUS275
instructors so they can
revise and improve
their instructor.
This shows a 15 point
improvement over the
desired metric, but 2
points lower than last
year. These results
were disseminated to
all of the BUS215
instructors so they can
revise and improve
their instruction.
1/12/2012
Accounting Skills
Economics
Upon completion of
the Business
Administration
Program, students
will be able to
complete the
accounting cycle.
Upon completion of
the Business
Administration
Program, students
will demonstrate an
understanding
fundamental
economic principles
and current economic
conditions.
Graded Bus 241
Comprehensive
Project including a
complete business
accounting cycle
(known as a practice
set in accounting).
The use of 10
standard questions on
the ECO 232 post-test
which address
awareness of core
economic principles
and current economic
events.
At least 80% of
Business
Administration
Students will
complete an
accounting project
encompassing one
complete business
accounting cycle.
At least 75% of
Business
Administration
Students will answer
70%, or more, of the
selected questions
correctly.
92.67% of the
Business
Administration
students scored a 70
or better on this
comprehensive
project
62% of the Business
Administration
students scored a 70
of better on the
Economics
Microeconomics
Post-Test.
Our students
exceeded the desired
metric of 80% by 12
points. However, this
represents a drop of
2.5 points from the
previous academic
year. This was
shared with the
faculty who teach
BUS241 and the
information was used
to revise and improve
course instruction.
Results of the
posttest, for
individual students
and sections, were
disseminated to all
ECO231 faculty at the
end of each semester.
This information was
used to revise and
improve course
instruction.
1/12/2012
BuS275 Results ofr Fall of 2011
Percentage Frequency
Scored >=70% 88.88 32 Scored <70% 11.12 4
0 20 40 60 80 100
Scored >=70%
Scored <70%
Percentage
1/12/2012
BIS215 Results for Fall of 2011
Percentage Frequency
Scored >= 70% 90.9 70 Scored < 70% 9.1 7
0 20 40 60 80 100
Scored >= 70%
Scored < 70%
Percentage
1/12/2012
BUS241 Results for 2011-2012 Academic hear (Fall 2011 only)
Percentage Frequency
Scored >=70 92.67 177 Scored < 70 7.33 14 Did not complete project
68
0 20 40 60 80 100
Scored >=70
Scored < 70
Percentage
1/12/2012
ECO232 Post-Test Results for Fall of 2011
Percentage Frequency
Scored >=70% 62 57 Scored < 70% 38 35
0 10 20 30 40 50 60 70
Scored >=70%
Scored < 70%
Percentage
1/12/2012
BUS275 Final Exam and Scoring Rubric
Grade Test: Final Exam: Chapters 1 - 19
Assign a grade and feedback for the current test attempt. When available, click Save and Next or use the arrow buttons to navigate through or
grade the attempts in the queue one at a time. If no grade is assigned to the attempt, clicking Save and Next will not change the status of the
attempt. If multiple attempts for a test have been allowed, a Student's grade is not released until all of the attempts have beeen graded. Click
Hide User Names to grade attempts anonymously. Click Show User Names to display user information. More Help
Test Information
Status Completed
Score 100 out of 115 points
Time Elapsed 1 hour, 40 minutes out of 2 hours.
Started Date 12/13/11 12:07 PM
Submitted Date 12/13/11 1:48 PM
Instructions
Clear Attempt Clear Attempt Click Clear Attempt to clear this user’s attempt.
Question 1: Multiple Choice
For the video that was viewed in class, the lecturer's name is
Core Questions from the Economics 232 Pre-/Post-Test
1. What is the opportunity cost of buying a new car?
a) The value of other goods and services you could have purchased with the money you spent on the car
b) The price you paid for the car
c) The cost of operating and maintaining the car
d) The difference between the price of the car and the price of a used car
2. Joe’s Pizza Company faces a demand for its pizzas which obeys the “law of demand.” This means if Joe lowers the price he charges per pizza
a) he will sell more pizzas.
b) he will sell fewer pizzas.
c) his profit will rise.
d) his profit will fall.
3. Which of the following would cause a shortage?
a) A price ceiling set below the equilibrium price.
b) A price ceiling set above the equilibrium price.
c) A price floor set below the equilibrium price.
d) A price floor set above the equilibrium price.
4. In order to increase tax revenue, the government should
a) raise taxes on goods with elastic demands.
b) raise taxes on goods with inelastic demands.
c) raise taxes on luxury items purchased mostly by the wealthy.
d) place equal taxes on all goods.
5. Marginal utility refers to the
a) additional satisfaction from consuming the last unit of a good.
b) additional profit generated by the last unit of a good sold.
c) benefit derived from all units of a good consumed.
d) opportunity cost of a good.
1/12/2012
6. Stephanie's Waterbeds faces the demand shown below for its beds. Each bed costs $300 to produce (no matter how many are made). If Stephanie charges $700 per waterbed, how much total profit will she earn?
Price (per bed) Quantity Demanded
$1000 1
$900 2
$800 3
$700 4
$600 5
a) $2800.
b) $2500.
c) $1600.
d) $1200.
7. Which of the following is necessary for perfectly competitive markets to exist?
a) A high level of advertising.
b) Barriers to entry for new firms.
c) A few firms have large shares of the market.
d) Firms with products that are perfect (identical) substitutes for each other.
8. Which of the following would reduce monopoly power in an industry?
a) Reducing the length of copyrights and patents.
b) Mergers between existing firms.
c) Allowing collusion between existing firms.
d) Strengthening licensing requirements in a profession.
9. Price discrimination
a) only occurs in competitive markets.
b) almost always is illegal in the United States.
c) is beneficial to some consumers.
d) reduces producers’ profits.
10. A public good is characterized by which of the following?
a) People who do not pay for the good can be excluded from using it.
b) If one person uses the good, it does not reduce its usefulness to others.
c) It is easy to determine who should pay the cost of the good.
d) All the above are characteristic of a public good.
1/12/2012
Grading Rubric for the ECO232 Post-Test 1(a) 2(a) 3(a) 4(b) 5(a) 6(c) 7(d) 8(a) 9(c) 10(b)
