Economics Semester Review KS

Which of the following describes a publicly held corporation?

Jane won $2000 & plans to use the $ to pay her tuition in 4 months. Why use a savings account?

In economic terms, what are land, labor, capital and entrepreneurship?

Which of the following will guarantee that a person will make money in the stock market?

What is the primary incentive that motivates a manufacturer to sell a product?

In general, what type of economy does the U.S. have?

Which of the following is the Rule of 72 intended to approximate?

Which of the following describes what you are doing when you invest in a mutual fund?

Which of the following is an opportunity cost of building a new public high school?

Gov't owns all industries, sets production & wages, and provides all education and medical care

Which strategy is most likely to improve a person's financial situation over his/her lifetime?

To deal with the problem of scarcity, societies establish which of the following?

Why invest in mutual funds instead of a single stock?

Which of the following is a result of the specialization of labor?

What is the main idea behind the study of economics?

Jenny has enough $ to buy a CD or go to a movie. What is the choice that Jenny "gives up?"

Which of the following is a characteristic of traditional economies?

A company decides to install more machines & lay off workers. Which economic "?" is addressed?

What is the most basic economic issue for all societies?

Why is investing in a money-market mutual fund a higher risk than investing in a CD?

How does the process of specialization change an economy?

Which of the following is true of both a traditional economy and a command economy?

What is "compounding interest?"

In which of the following economic systems is the "factors of production" privately owned?

Which of the following is true of an investment in bonds?

In economic terms, what does the statement below mean?

B/c bonds are considered a safe investment, which characteristic would you expect them to have?

In every economic system, what must people choose to do?

Gov't sets quotas & prints and distributes posters to inspire workers to increase productivity

What is the benefit of competition in a free market system?

My shoes were designed in U.S. & assembled in Asia. What type of enterprise does this involve?

In economic terms, what is a "stock?"

What is the greatest advantage to diversification in a stock portfolio?

Customs & religion of previous generations determine how the economy will use scarce resources

In a market economy, what is the government's role?

Which type of economy produces the highest standard of living for its citizens?

Which of the following statements will help to maximize your stock investment?

Unlimited Wants + Limited Resources = ???