The Market - Online Ed 2020

Question 1

The market is an organized way for consumers and producers to exchange goods and services.

Accepted Answer

True

Question 2

Once Easter has passed, what word describes the supply of Peeps in the stores?

Accepted Answer

low

Question 3

In June, what will be in high demand in the stores?

Accepted Answer

swimsuits, sandals

Question 4

Which is NOT a "brick and mortar" store?

Accepted Answer

Amazon.com

Question 5

The struggle among producers for consumers' money is...

Accepted Answer

competition

Question 6

Dominoes and Papa John's struggle for consumers' business. This is an example of...

Accepted Answer

competition

Question 7

Which is an example of an online business?

Accepted Answer

Amazon.com

Question 8

Supply of snowboards in summer will likely be low.

Accepted Answer

True

Question 9

Which store is a competitor of Giant Grocery?

Accepted Answer

Weis

Question 10

Which is NOT an example of a consumer trying to save money when buying a product?

Accepted Answer

consumer purchasing item at full price

Question 11

Sellers use advertising to influence consumer demand.

Accepted Answer

True

Question 12

In June, what word describes the supply of winter jackets in stores?

Accepted Answer

low

Question 13

Producers offer incentives to encourage consumers not to buy their products.

Accepted Answer

False

Question 14

The desire of a number of people to buy a product they want or need is...

Accepted Answer

demand

Question 15

Competition is a key part of the economic process. Producers want money and consumers want to save money.

Accepted Answer

True

Question 16

Which is NOT a way a product is advertised?

Accepted Answer

nutrition label on a product

Question 17

Which is not an economic incentive?

Accepted Answer

taxes

Question 18

The amount of something that is available is...

Accepted Answer

supply

Question 19

An item in short supply and high demand will cost a high price.

Accepted Answer

True

Question 20

In the month of October, before Halloween, what word describes supply and demand for Halloween products in stores.

Accepted Answer

high

Questions 20