Marketing 1 - Unit 2 Review

During WWII Hormel Foods did more than half it's business with Uncle Sam. Best seller?

The Cadillac brand is named after the founder of what US industrial city?

People often buy goods and services in order to maintain the quality of life, this is

The ultimate goal of all economic activity is

Which of the following cultures has a traditional economic system

Cheerios are O-shaped, but the O in Cheerios also stands for this

In a communist command economy, who decides how the economic questions will be answered?

GDP figures for the U.S. include the value of

A country’s gross domestic product is expressed in

The price of one product changes, and this price change affects demand. Price is considered

Which one of these is NOT an original Microsoft Office application?

The most common medium of exchange is found in all economic systems

The government controls the economic system and does not allow private ownership

Even though prices increased, Alice continued to buy the product. What type of demand exists?

A gap between unlimited wants and limited resources creates

What type of economic system is used in the United States?

Individuals and businesses own the means of production, with limited government regulation

Most businesses strive to supply goods and services in direct proportion to

Consumers are typically most willing to pay more for goods and services that bring them greater

How many calories are in each Jelly Belly jelly bean?

Lack of economic growth is a major problem for _____ economic systems

The period of time during the business cycle when productions and employment increase is called

A major problem for the individuals and private businesses in a socialist command economy is

One of the reasons that a country needs an economic system is because it

Which type of unemployment is voluntary?

Seeing a movie at a theatre would be considered a(n) _____ want.

Ups and downs in the level of economic activity over a period of time are called a(n)

A town has many houses for sale at a low price, but demand for housing is low. What market?

Which of the following factors may influence supply:

Which of the following determiens whether consumers can purchase goods or services

Name the only Jolly Rancher hard candy flavor that isn't based on fruit.

The quantity of a good or service that producers are willing to offer at various prices

The main result of inflation is

“Too much cash chasing too few goods” is a description of

CoverGirl Wetslicks are a "shining" example of this kind of cosmetic