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EBME Unit 2 Understand Economics and Economic Systems Flashcards | StudBud
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EBME Unit 2 Understand Economics and Economic Systems
EBME Unit 2 Understand Economics and Economic Systems
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Understand Economics and Economic Systems #economics
Flashcards
32 cards
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Questions
32
Answers
1
Theactual physical location where stocks are listed and traded.
Stock Exchange
Stockholder
Stock Market
Stock house
2
Which of the following is NOT a place to trade stocks?
ASE
NYSE
DOW
NASDAQ
3
Which is
NOT
an example of a U.S. regulatory agency?
FBI
FDA
FAA
US Maritime Commission
4
Individualsare willing to consume more of product or service at a lower price is defined as...
Demand
Profit
Supply
Loss
5
Divide your business upinto small pieces and sell those pieces, you would have issued this...
Cash
Stocks
Produce
Services
6
How much of a good orservice a producer is willing and able to produce at different prices is..
Loss
Supply
Demand
Profit
7
What 2 choices are disadvantages of the U.S. Economic System?
Freedom of Choice
Competition
Government Control
Paying taxes for services
8
Businesses and consumersdecide what they will produce and purchase and in what quantities
Command
Mixed
Traditional
Market
9
The place whereshares of stocks, bonds, and futures are bought and sold (or traded).
Stock House
Stock broker
Stock Exchange
Stock Market
10
The government determines what, how, andfor whom goods and services are produced.
Mixed
Market
Traditional
Command
11
Raw materials found in nature that are used to produce goods.
Human Resources
Natural Resources
Capital Resources
Entrepreneurial Resources
12
Stocks,Bonds, Futures, and Mutual Funds are called this...
Futures
Securities
Money
Business
13
Rising pricesprovides optimism, investor confidence andexpectations that results will continue
Bear
Bull
Bee
Bird
14
The type of market whenthe economy is in a recession &high unemployment &inflation isrising is.
Bear
Bird
Bee
Bull
15
The economy that has a combination of a market anda command economy is known as...
Command
Mixed
Market
Traditional
16
Peolple known as this havepartial ownership in the corporation.
Customer
Entrepreneur
Shareholder
Consumer
17
Customs govern the economicdecisions that are made in this type of economy...
Command
Traditional
Mixed
Market
18
Becauseconsumers can purchase goods on the Internet they have ??? in goods.
No choice
Less choices
More choices
Same choices
19
Who takes care of the people's needs in the U.S. economic system?
U.S. Government
N.C. Government
County Government
S.E. Regional Government
20
The place where consumersdetermine the demand of a product & business make more of the product.
Demand
Economics
Marketplace
Supply
21
Shortageof resources is known as...
Equibilrium
Loss
Scarcity
Profit
22
What type of market does the United States have?
Market Economy
Traditional Economy
Command Economy
Mixed Economy
23
This graph provides a visual representation of this...
Supply & Demand
Profit & Loss
Consumer & Customer
Service & Good
24
Which of the countries do NOT have a Mixed Economy?
Russia
Iceland
Australia
England
25
A person can get a general picture of howthe market as a whole is performing by using this...
New York Times
NYSE
NASDAQ
Dow Jones Industrial Average
26
Used toproduce goods and services (buildings, materials, and equipment).
Natural Resources
Human Resources
Entrepreneurial Resources
Capital Resources
27
The study of how people seek to satisfy needs & wants through choices & allocation of resources
Marketing
Economics
Technology
Investing
28
Who satisfies people's wants in the U.S. economic system?
Market
Stores
Stock Market
Government
29
What 2 choices are advantages of the U.S. Economic System?
Paying taxes for services
Competition
Freedom of Choice
Government Control
30
People’sknowledge, efforts, and skills used in their work.
Entrepreneurial
Capital
Natural
Human
31
The Central Bank that regulates the money supplyin the US economy.
Bank of America
Federal Reserve
World Bank
US Bank
32
The pointat which the supply and demand curve meet is known as...
Profit
Uncertainty
Loss
Equilibrium
