Consumer Education Final Exam Review

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

Fossil fuels are examples ofwhich type of resource?

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

 If supply decreases and demand does notchange:

What is the equilibriumquantity?

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

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

Howdoes shoplifting harm every consumer?

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

Aneffective consumer might do all of the following EXCEPT…

Ifdemand increases, and supply does not change

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

The price of $35 will cause a:

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

What is the equilibriumprice?

Aplace to live is a(n)

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

The best description of a budget is:

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

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

Inour class, Opportunity Cost, can be described as

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

What is the equilibrium price?

Scarcityis when there is:

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

All of the following are determinantsof Demand EXCEPT:

Land,labor, capital and entrepreneurship are the:

Copyrightlaws mainly protect the work of:

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

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

Whyare entrepreneurs important in our economy?

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

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

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

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

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

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

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

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

Everythingoffered for sale to the general public makes up the…

 Ethics are guidelines for behavior based onprinciples of:

What is the equilibrium quantity?