The law of supply states that as the price of a good rises, the quantity supplied of that good disappears. decreases. remains the same. increases.
The amount of goods and services consumers want is called? A.the count. B.demand. C.number. D.supply.
Motor vehicle crashes cost americans _____ of dollars every year. a.hundreds b.thousands c.millions d.billions
Which of the following is an example of search costs? (1 point) paying a premium cost for goods buying goods in some special way that is outside the normal channels driving to a faraway place to find available goods selling extra goods for a discount price
What's the main advantage of establishing per-item prices on an order and pricing form? a. Clients have a way to tailor a catered event to their budget. b. Clients are informed in advance that high-cost items should be excluded. c. You can reduce the cost of materials and labor. d. You can estimate your total cost and reduce overhead.
When someone is considering a career as a lawyer, future earnings are the net cost. net benefit. future cost. future benefit.
Which of the following has a pure market economy? the United States China Great Britain none of the above
Why does an economist create a market demand curve? to predict how people will change their buying habits when prices change to have an idea of how a market would change if conditions in an area changed to show how various conditions can change the demand for a good to learn what demands the market will make under unusual conditions?
Liquidity refers to the degree of readiness of conversion of an asset into common stock. a. True b. False
Which is the most likely scenario in which someone would take out a short-term loan with a bank? to buy a skateboard to by a second home to pay for credit card debt to buy a car
What benefit does a 401(k) plan provide over an IRA? a higher rate of return fewer investment options less investment risk on-hand financial advisors employer’s contribution
A customer returns a defective item she recently purchased. She loves the merchandise, but the store doesn't have any more like it. What would you do?
Which of the following documents thanks the interviewer and restates the applicant’s interest in the job? a. Cover letter b. Acceptance letter c. Thank-you letter d. Rejection letter
Under a contractionary taxation policy, the government can reduce the deficit by increasing taxes. reducing taxes. increasing spending. reducing spending.
The domination of organizations by a small, self-perpetuating elite is called ________. the thomas theorem the protestant ethic the iron law of oligarchy the spirit of capitalism
Some products are produced most efficiently when there is a single supplier. What is this called? Natural monopoly Natural resources Price controls Wage controls
Which of the following is influenced by personal economic choices? Check all that apply. the cost of your rent and utilities the resources you have available the amount of money you spend on a bus pass the money you decide to spend on leisure products the amount of money you put into your savings account the manner in which you balance your time between work and leisure
Which of the following outfits would best fit an office job? a. Neon green blouse, blue jeans, flip flops b. Brown polo shirt, khaki pants, dress shoes c. Pink polka dotted t-shirt, khaki pants, dress shoes d. Blue button up with matching tie, khaki shorts, dress shoes
Which business model seeks to reduce distribution expenses? A. shopkeeper B. subscription C. bricks and clicks D. cutting out the middleman