BME Midterm

One factor that might limit the human resources available for certain jobs is a(n)

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

Friendship would be considered a(n) __________ want.

What action do consumers take that determines what will be produced in a market economy?

Which of the following is a way to show accountability:

Equilibrium price of a good or service is determined by trial and error and exists when

Service businesses that use goods to perform their services usually do not transfer

What can you do to be trustworthy?

Which of the following is a natural resource that can be renewed through people's efforts:

When prices increase, producers usually

Which of the following is an external factor that affects market price:

In a traditional economic system, the question of what to produce is answered by producing

A business that begins selling winter holiday decorations in late autumn is creating __utility.

Which of the following is a potential problem in market economies:

Which of the following occurs when supply of indivi who are able and willing to work diminishes

A killing frost destroys 80% of Florida's citrus crop. This is likely to create

If a business is not concerned about social responsibility, it is likely to

More than anything else, being an ethical person means

Countries whose governments provide citizens with free medic care, educ, and other benefits are

Which of the following items would be considered a noneconomic want:

Communist command economies are most likely to experience which of the following problems:

The usefulness of a product to consumers is referred to as product

Which of the following items is found in all economic systems:

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

Which change provides the most time utility for a consumer?

The most common medium of exchange in modern economic systems is

Government owns the basic means of production but there is some private ownership of businesses

Sonali acts with honesty in all situations. She is demonstrating

Which of the following cultures has a traditional economic system:

Which of the following is a reason that natural resources are considered limited:

Which of the following is a problem associated with communist command economies:

Henry says please and thank you. He demonstrates

Which of the following situations would cause prices to rise:

a socialist economic system who tends to answer the question of how products will be produced

Which of the following is an example of an economic service:

What question should you ask to decide whether you're facing a problem or ethical dilemma

An example of a country that has a socialist command economy is

Indivi and busi own the means of production and distribution with limited government regulation

Sally isn't breaking any laws but her behavior still isn't ethical because simply doing what is

The two main divisions of the trade industry are

of the following is most likely to happen if you avoid an ethical dilemma instead of responding

Lack of economic growth is a major problem for __________ economic systems.

Your classmates are bullying you to try to convince you to behave unethically. You're facing

The amount of a product that is produced is most directly affected by

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

A major characteristic of a market economy is __________ ownership of property.

A country that currently has a communist command economic system is

The way in which an economic system answers the basic economic questions depends upon country’s

Which of the following groups of words best describes wants:

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

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

Which of the following types of economic systems adopts the fewest new ideas or improvements:

A local dry cleaner that also launders and presses shirts is selling