Supply & Demand

Question 1

Which of the following refers to the impact on the 3rd party?

Accepted Answer

Externality

Question 2

Which of the following types of cost involves buying more of something so the price is cheaper?

Accepted Answer

Variable

Question 3

Which of the following advertising techniques allows the user to be ahead of the times?

Accepted Answer

Avante Garde

Question 4

What advertising technique includes buying so much of something and getting something free?

Accepted Answer

Bribery

Question 5

Which of the following is an example of a positive externality?

Accepted Answer

Education

Question 6

Which advertising technique convinces the people that their product includes something special?

Accepted Answer

Magic Ingredients

Question 7

Which of the following terms best describes the output of one more worker?

Accepted Answer

Marginal product of labor

Question 8

What type of cost involves paying full price for an item no matter the quantity purchased?

Accepted Answer

Fixed

Question 9

What are price ceilings oftentimes associated with?

Accepted Answer

Shortage

Question 10

What advertising technique involves words that suggest things, but don't guarantee anything?

Accepted Answer

Weasel Words

Question 11

What time period in US history brought an end to the economic theory of laissez faire?

Accepted Answer

Great Depression

Question 12

What is the poverty threshold for a family of 4 in the United States?

Accepted Answer

$25,100

Question 13

Which of the following states that firms will make more of something as the price increases?

Accepted Answer

Law of Supply

Question 14

What was the safety nets that were created by LBJ during the 1960's called?

Accepted Answer

War on Poverty

Question 15

Which of the following describes that the more you consume something the less you want it?

Accepted Answer

Law of Diminishing Utility

Question 16

What is responsible for causing market failures?

Accepted Answer

Both a & b

Question 17

Which of the following is NOT an example of a safety net?

Accepted Answer

Taxes

Question 18

Which of the following would not constitute a shift in demand?

Accepted Answer

All of the above cause a shift in demand

Question 19

Which of the following would be an example of a price ceiling?

Accepted Answer

Both b & c are examples of price ceilings

Question 20

What term refers to "hands off" or "leave alone?"

Accepted Answer

Laissez Faire

Question 21

Which of the following terms refers to an additional economic unit?

Accepted Answer

Marginal

Question 22

What was the name of the program that FDR used to try and create jobs?

Accepted Answer

New Deal

Question 23

Which advertising technique involves celebrity appeal?

Accepted Answer

Ethos

Question 24

Which of the advertising techniques involves relying on emotions?

Accepted Answer

Pathos

Question 25

Which of the following is an example of an inelastic good?

Accepted Answer

All are examples of inelastic goods

Question 26

Which of the following has a good impact on all of society?

Accepted Answer

Positive Externality

Question 27

What is the point in which the supply and demand curve intersect?

Accepted Answer

Equilibrium

Question 28

Which of the following terms best describes a good as a luxury item or a want?

Accepted Answer

Elastic

Question 29

What advertising technique is distinguished by love and devotion for ones country?

Accepted Answer

Patriotism

Question 30

Which of the following terms refers to buying more of something when the price decreases?

Accepted Answer

Law of Demand

Supply & Demand

Questions 30

Supply & Demand

Questions 30