Econ Final

Which of the following is a franchise?

The Law of Demand states that as price goes up:

The demand for _______ would be inelastic

To set products apart from  competitors, sellers in a monopolistic market use product

As a whole, these business organizations bring in the most money in the United States

Consumers choose what to

Patents and copyrights are associated with what market structure?

A person who leaves a job to look for a better one is a percentage of those who are

In the cereal market, 3 companies have ~ 80% of sales.  Why are there many brands of cereal?

For a period of time, most people considered Microsoft a

Which phase of the business cycle is characterized by economic growth?

What is the approximate point of equilibrium price and quantity of D’D’ and S’S’?

When sellers secretly agree to set production levels or prices, it is called

If you wanted to be guaranteed that you are in a union, you would be in this type of business

Hamburgers and hamburger buns are considered

If a pizza company purchases a faster oven, the supply of pizza will

The payment that financial institutions receive in return for making loans is called

“An airline buys another airline.”  This would be an example of a

Ideas & laws guaranteeing representation of women & minorities in the workplace are 

Clothing, food, and shelter are examples of human

The state would set the price of consumer goods in which of the following economies?

A nation’s bridges, roads, schools, and airports are part of its

If the inflation in a particular country is extremely high, it means that

All of the following are weapons used by workers except:

According to curve S’S’, suppliers supply an approximate quantity of _____ at a price of 4

All of the following are weapons used by management except:

In what business organization do 2 or more people enjoy equal decision-making authority?

Which speaker is discussing a mixed economy?

The construction of a shopping mall is an example of  which of the following 4 sectors of GDP?

“I felt good because I helped someone who had a problem.”  This person experienced

In this market, demand might have changed because

If the cost of a product is small portion of consumers’ income, that product will have

When a 3rd party makes a legally binding decision, union and management have engaged in

Liquidity refers to the ability to quickly

People are forced to make decisions about how to use resources effectively because

This is the idea that government should not interfere in an economy

Which category of GDP includes the largest percentage of the money?

A table showing the quantity supplied at different prices is known as a

These are two benefits people experience when they save money

This is the study of concepts and ideas that affect an entire economy

Entertainment expenses are an example of

During the winter months, many farmers and landscapers experience

The total cost of credit expressed as a yearly percentage is known as the

If you own a share, you actually own

The disadvantages of partnerships include

When people are buying stock, 7 the Dow Jones Industrial Average rises over a period of time

Which speaker is describing a capitalist economy?

Serious recessions in 1974-75, 1980-82, 1990-91, and 2007-2009 were marked by high levels of

If new pollution controls are imposed a wrench company, the supply of wrenches will

If a pizza company pays more for cheese, what would probably take place?

Which sector of GDP would the purchase of airplanes by the United States Air Force be included?

Which of the following factors influence the business cycle?

Which of the following is a market dominated by a few large sellers?

Shopping you see pants & a T-shirt you like. If you buy the pants, what's the opportunity cost?

If the price of jelly goes up, the demand for peanut butter will

If consumers expect the price of beef to rise the next month, the demand for beef will

All of the following are economic questions except

The basic fact of economic life is

The most common type of business organization in the United States is the

An example of a nonprofit organization is

A certificate of deposit is an example of a

Competition in the field of agriculture best fits into what market structure?

Designer jeans and different fast food restaurants are part of what type of market structure?

Salt has inelastic demand.  How will a small increase in price affect the demand for salt?

Profit is best defined as

Liability is also known as

If a study showing eating beef increased a person’s lifespan, what would probably take place?

Ownership of private property is a characteristic of

The numerical standards often used for employing women and minorities are known as

“An airline buys oilfields and a fuel transportation network.”  This would be an example of a

Which one of the following is a court order requiring workers to report back to work?

In this market there was

Choosing a variety of investments is known as

The structures, buildings, machinery, and tools used in the production process are called

Which speaker is describing a command economy?

Which of the following would be considered a fixed cost?

In this market, supply might have changed because:

According to curve DD, at an original price of 4, consumers demanded an approximate quantity of

What is the approximate point of equilibrium price and quantity of  DD and SS?

Full employment means

Which phase of the business cycle is characterized by a slowdown in business?

Which speaker is discussing a traditional economy?