stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Unit 2 CFA Review Flashcards | StudBud
Explore
/
Unit 2 CFA Review
Unit 2 CFA Review
33 terms
·
StudBud Administration
·
80 plays
Imported from external platform
Flashcards
33 cards
F
Practice quiz
P
Host live
L
Questions
33
Answers
1
A Sole Proprietorship is............
someone who holds property for the benefit of another person
one individual or married couple in business alone
one or more general partners & one or more limited partners
property being held and managed by the shareholders
2
What is a partnership?
Business that is operated individually
Relationship between two people
Business where people combine resources
Two + people are responsible for everything involved
3
What is Inflation?
The rise in prices for consumer goods
The rise in prices for goods
The fall of prices in goods
The fall in prices for consumer goods
4
What happens when the supply is high and the demand is low?
The Prices tend to fall
Prices go crazy and have a party
You have the equlibram
The Prices tend to increase
5
Timber is an example of a renewable resource is
False
True
6
What is a Market-Based Economy?
Holds resources amoung a community.
Something money-related.
Most Economic Decisions made individual buyers and sellers.
relies on traditions or customs
7
An economy based on tradition is called: _______________________
Free Market Economy
Command Economy
Mixed Economy
Traditional Economy
8
A person who buys goods or services.
market
competition
producer
consumer
9
Indicate which of the following is an example of a non-renewable resource?
Soy Beans
Dairy
Crab
Natural Gas
10
Paying for a haircut is an example of a good.
True
False
11
compound interest
interest in an account causing money to grow at a rapid rate
tax refunds
home loan
profit made from an investment
12
Define unemployment
The number of people not actively looking for a job, but are able to work
The number of people able/willing to work but unable to find a paying job
The number of people unable to find a paying job
13
Barter
a trading system where people trade directly without using money
a trading system where people trade indirectly using money
14
Goods and services sold to other countries.
Comparative advantage
Infrastructure
Tariff
Exports
15
What does command economy mean?
Earns all the money
Controls levels of production
Setting prices on goods
Selling items for money
16
What type of economy does the US have?
Market
Democratic
Pure Market
Traditional
17
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and ca
Non-renewable Resource
Natural Resources
Spending Power
Renewable Resource
18
The consumer price index is used to
monitor changes in the stock market.
monitor changes in the level of real GDP over time.
monitor changes in the cost of living over time.
19
Tariff
A tax to be paid on property.
A tax to be paid on public parks.
A tax to be paid on private schools.
A tax or duty to be paid on a particular class of imports or exports.
20
Account that allows you easy access to your money and allows the use of checks and debit cards.
Checking
Savings
Money Market
Certificate of Deposit
21
When the demand is greater than the supply
supply
opportunity cost
scarcity
demand
22
Deflation occurs
When the overall price of a good stays the same
When there's an sustained increase in the overall price of a good/service
When there's a sustained decrease in the overall price of a good/service
23
What is a Corporation?
A business owned by stockholders.
A business owned and run by.
A business that has stockholders, but they do not own it.
A business not owned by stockholders.
24
A surplus typically indicates that...
gov't price controls are needed
the market is in equilibrium
the price is too high
suppliers cannot meet the demand
25
What is the annual interest rate on this account?
C
A
B
D
26
What will competition typically do to a price?
Increase
None of the above
All of the above
Decrease
27
When supply increases, demand also increases
True
False
28
To build good credit, you should ____________________ .
have steady income
pay bills on time
all of the above
borrow only what you can afford to repay
29
Define Scarcity
Needs and wants outweigh the amount of resources available.
A limited amount of resources compared to prices.
A social science dealing with people's needs and wants.
A fundamental problem in society.
30
On the Stock Market...
Consumers buy companies
Consumers invest in a share of a business
Consumers buy products and services
Consumers sell products and services
31
Supply
amount of a product that would be produced, grown and can not be sold
amount of a product unsold
amount of a product that would be produced, grown, or acquired and sold
32
In tradition economy what are the decisions based on?
Customs& beliefs.
Food and shelter.
Culture or ethnic group.
Looks and language.
33
Goods and services bought from other countries.
Imports
Exports
Tariff
Absolute advantage
