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Economics Final Exam Review

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questions related to this week's final

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Economics Final Exam Review
 

Froggy Jumps

Economics Final Exam ReviewVersión en línea

questions related to this week's final

por DOUGLAS JANTZEN
1

Any substance that occurs naturally in nature is considered which factor of production?

2

Which of these is a trade-off when you purchase a used car instead of a new car?

3

Which of these is NOT an assumption of a production possibilities graph?

4

What is the marginal cost when decide to watch 2 episodes of a show on Netflix rather than just one?

5

Which of these is true about scarcity?

6

Demand curves tend to move in which direction?

7

What will happen to the demand for printers if the cost of ink increases?

8

Golf clubs and golf balls are examples of

9

If the price of gum increased from $1.10 to $1.15, which would probably be true?

10

What happens to the demand for a product when its substitute decreases in price?

11

Which of these economic systems is the least likely to offer economic freedom?

12

A large benefit of this economic system is full employment, but a drawback is a lack of incentive

13

Any point beyond the curve on a Production Possibilities Curve is referred to as

14

This economic goal is defined as one that seeks to provide citizens with guarantees of food on shelves, affordable healthcare, unemployment benefits, etc.

15

If eggs will increase in price next month, how will that affect the current demand curve for eggs?

16

If a business owner raises prices and demand drops by an elasticity of .7, was it a good decision?

17

If demand for cars increases, but car manufacturers can't meet demand, what will we see?

18

Unlike the Law of Demand, how are price and quantity linked with the Law of Supply?

19

Market equilibrium occurs in which of these situations?

20

Which of these is the safest investments?

21

The market cap of a company is a measure of a company's size and is calculated by taking its current share price and multiplying it by what?

22

Mutual funds are a good investment strategy for many people because

23

Which of the following statements about FICO scores is true?

24

The statement balance on a credit card is

25

Income taxes in America are

26

Which of these programs is NOT funded by FICA (Federal Insurance Contributions Act)?

27

How is taxable income determined?

28

Which of these is true of general partnerships?

29

Corporations face each of these disadvantages EXCEPT

30

Which of these business organizations is the easiest to start and allows for total freedom in decision making for one person?

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