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EOPA Review- Econ/Bus/Mkt Flashcards | StudBud
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EOPA Review- Econ/Bus/Mkt
EOPA Review- Econ/Bus/Mkt
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Questions
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Answers
1
Which economy is run by the people for the people?
market
traditional
mixed
command
2
What are the factors of production?
land, people, and entrepreneurship
land, money, and resources
Land, labor, and capital
land, labor, capital, and entrepreneurship
3
Which part of the seven functions would you associate this picture with?
promotion
product planning
pricing
distribution
4
Which one sells to industrial users?
publix
agent
wholesaler
retailers
5
What increases when a debit card can be taken?
Time utility
Place utility
Form utility
Possession utility
6
What is the universal problem of economics?
competition
over production
scarcity
pricing
7
What is it called when one choice is chosen and the other is given up?
cost of choices
a simple loss
opportunity cost
scarcity
8
When one business has the power of all of one product or service it is called what?
trust
company
monopoly
single ownership
9
In which economy does the government make all the economic choices?
market
traditional
command
mixed
10
What is risk?
possibility of loss
no money
loss is impossible
possibility of gain
11
what obtains goods to sell directly to consumers?
competition
retailer
marketing
wholesaler
12
what is created when two businesses produce the same product?
product subing
competition
selling same goods
TEAM work
13
How does competition help consumers?
lowering prices and develops new products for consumers
I'm not really sure
lowering prices of products
by giving them new products
14
What is the middle man other wise known as?
Retailer
Trooper
The man
Agent
15
Which economy has government intervention but is run by the people as well?
mixed
command
market
free enterprise
16
What is form utility?
money
people
The product
location
17
What is marketing?
the market
browsing the market
a game of politics
promoting and selling products or services
18
What is a trait of depression?
everyone has a job
rich people everywhere
very high unemployment
no poverty
19
Which economy is when a group of people has done one thing and is always going to one thing?
mixed
command
traditional
one thing
20
What is this an example of?
Pricing
Promotion
Place
Distribution
