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Duplicate of Marketing Essentials Ch 3 Political & Economic Analysis Flashcards | StudBud
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Duplicate of Marketing Essentials Ch 3 Political & Economic Analysis
Duplicate of Marketing Essentials Ch 3 Political & Economic Analysis
35 terms
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StudBud Administration
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marketing essentials book, chapter 3
Flashcards
35 cards
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Practice quiz
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Questions
35
Answers
1
The term _____ refers to a period of renewed economic growth.
recovery
peak
recession
trough
2
In economic terms, land , labor, and capital refers to ...
free enterprise system
infrastucture
scarcity
factors of production
3
The higher the ___________, the greater chances of an economic slowdown.
Unemployment Rate
Gross National Product (GNP)
Producer Price Index (PPI)
Gross Domestic Product (GDP
4
Measures wholesale price levels in the economy.
gross national product (GNP)
gross domestic product (GDP)
producer price index (PPI)
consumer price index (CPI)
5
A tree growing in a forest is a factor of production called...
labor
land
captial
sea
6
What day does Christmas fall on this year?
Tuesday
Monday
December 25th, duh!!!
Saturday
7
In a command economy, who decides how products are produced?
businesses
labor
government
consumers
8
Difference between wants and needs and available resources is called.
scarcity
factors of production
supply and demand
infrastructure
9
In a command economy, it is the consumers that decide what items will satisfy their wants/needs
true
false
10
In economic terms _____ refers to people who work in the public and private sectors.
land
captial
sea
labor
11
How long does it take for the Earth to spin once on its axis?
One year
One month
One hour
One day
12
Resource scarcity forces nations to make economic choices...
false
true
13
A country's infrastructure includes...
phone lines
sewers
all of the above
highways
14
Mr. Carter used to work where before teaching?
Teachers Credit Union
Pinal County Federal Credit Union
Francisco Grande Resort
Boys & Girls Club
15
Which of the following
is not
a phase of the Business Cycle?
Depression
Trough
Recovery
Recession
16
A period of economic slow-down that lasts for at least two quarters or six months.
expansion
depression
recession
recovery
17
It's illegal in Georgia to do what with a fork?
Eat Spaghetti
Eat BBQ Ribs
Eat Cake
Eat Fried Chicken
18
O'Hare International airport is in which city?
Chicago
Cleveland
Dallas
New York
19
What is the organized way a nation provides for the needs and wants of its people?
economy
purely command
capital
resources
20
The money a firm raises is considered which factor of production?
labor
capital
entrepreneuership
land
21
The output of goods and services produced by labor and property located within a country.
productivity
consumer price index (CPI)
gross national product (GNP)
gross domestic product (GDP)
22
Measurement of the amount of goods and services people have...
inflation
standard of living
specialization
capital
23
A period of prolonged recession.
inflation
recession
depression
expansion
24
The total dollar value of goods and services produced by a nation, including produced abroad.
gross domestic product (GDP)
consumer price index (CPI)
productivity
gross national product (GNP)
25
In a market economy, who decides whether a business will survive or fail?
the business itself
the competitiors
the government
the consumers
26
At what time this Sunday morning are you to turn your clock back one hour.
6 AM
1 AM
2 AM
Midnight
27
14% of Americans could not identify which country on a map?
Alaska
America
Mexico
Cuba
28
In a traditional economy, who decides how products are produced?
tradition
businesses
government
consumers
29
Germany is a socialist country, therefore, Germans pay less taxes than Americans?
false
true
30
In a market economy, who decides how products are produced?
businesses
government
consumers
labor
31
Money to start and operate a business...
labor
inflation
capital
land
32
Governments raise interest rates during this time...
trough
recovery
inflation
recession
33
Which economy would best describe that of the US?
traditional
market
mixed
command
34
A time when the economy is flourishing, sometimes referred to as a period of prosperity.
expansion
recession
recovery
inflation
35
As a factor of production, the term labor refers to both skilled and unskilled workers?
false
true
