Consumer Education Final Exam Review

According to the law ofdemand, if the price of compact disks goes down:

Whyare entrepreneurs important in our economy?

Ofthe following choices, a résumé should describe a job seeker’s:

 Which of the following is NOT an example of responsible citizenship?

Land,labor, capital and entrepreneurship are the:

Which of the following is NOT a one-time paymentrequired when buying a home?

Fossil fuels are examples ofwhich type of resource?

Theamount of money you expect toreceive after paycheck deductionsis known as:

The best description of a budget is:

What is the equilibrium quantity?

 Ethics are guidelines for behavior based onprinciples of:

Educational opportunitymost likely to be chosen by someone who wishes to be acarpenter is…

whichUS economic goal wants 2 create steady level of economic well-being, w/o wild ups & downs?

All of the following are determinantsof Demand EXCEPT:

Whatgroup do many companies market to because of this group’s large impact on themarketplace?

Allof the following are characteristics of the American economic system EXCEPT:

 Saving to buy a new pair of jeans is a kind of:

Scarcityis when there is:

Whichof the following is the economic role you will play in yourlife?

Atrestaurant, using good table manners and leaving a tip would both be examplesof being a:

Everythingoffered for sale to the general public makes up the…

<p>The price of $55 will cause a: </p>

Aplace to live is a(n)

Howdoes shoplifting harm every consumer?

According to the law ofsupply, if the price of compact disks goes down:

What is the equilibriumprice?

Which of the following is NOT a factor to consider when choosinga career path?

At an initial price of $55, it will eventually do what to return to equilibrium?

The price of $35 will cause the price to do what in order to achieve equilibrium?

What is the equilibriumquantity?

 If supply decreases and demand does notchange:

Ifdemand increases, and supply does not change

Money a landlord holdsonto just in case they need to pay for damages caused by the tenant is:

Aneffective consumer might do all of the following EXCEPT…

Inour class, Opportunity Cost, can be described as

What is the equilibrium price?

Which of the following will NOT increase the demand for a good?

What concept from Adam Smith means that the government should keep its "hands off" the economy?

The price of $35 will cause a:

Whichof the following is NOT way you're preventing yourself becoming victim of identity theft?

Copyrightlaws mainly protect the work of:

Thisrefers to machines and technology used in the production of goods and services.