The purpose of the Federal Reserve is to do what?

Regulate the money supply in the US

You have a large supply of your product. What will happen to the price?

It will go down because everyone can have one.

Which economic question does this answer? "I will sell my product to middle school students."

Who uses or consumes these goods and services?

The study of how people meet their wants and needs.

Which of these is NOT one of the three questions of economics?

Why should goods and services be made?

Why do we have the Dow 30?

To give us a general idea of how the economy doing

If the Federal Reserve raises the interest rates what will happen?

People will buy less because it more expensive

Why do companies sell stock?

To raise money to pay off loans, To raise money to purchase more capital

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BU20 2.01-03 Economics Basics

17 termsStudBud Administration105 plays

A #review #quiz to help review #economics.

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Questions 17

Answers

1
The Federal Reserve is the what?
Reservists for the military
Central bank of the US
Make laws
2
Which of these is NOT an example of an incentive?
A Warranty
A Sale
A new product!
Buy One, Get One Free!
3
The purpose of the Federal Reserve is to do what?
Regulate the money supply in the US
Prevent other countries from having a good economy
Make everyone poor
4
The price of what you give up is called:
Opportunity cost
Chance Cost
Opportunity price
Chance Price
5
Bobby buys a new iPhone 7 Plus. He is a:
Producer
Consumer
Economist
Incentive
6
You have a large supply of your product. What will happen to the price?
It will go down because everyone can have one.
It will stay the same. Supply doesn't affect price.
It will go up because everyone can have one.
It will make the demand for the product less.
7
Which economic question does this answer? "I will sell my product to middle school students."
Who uses or consumes these goods and services?
Why should we make these goods and services?
How should goods and services be produced?
What goods and services will be produced?
8
What is economics?
The study of money in one country.
The study of money.
The study of to make a good business.
The study of how people meet their wants and needs.
9
You have a small supply of your product. What will happen to the price?
The cost to make it will go down.
The demand will go down.
The price will go down.
The price will go up.
10
What do you call the people who make/supply goods?
Consumers
Businessmen
Producers
Factory workers
11
Which of these is NOT one of the three questions of economics?
Why should goods and services be made?
Who uses or consumes those goods and services?
How should goods and services be produced?
What goods and services should be produced?
12
The Federal Reserve doesn't do which one of these?
sell stock
Raise and lower interest rates
Put money into circulation
Remove money from circulation
13
Why do we have the Dow 30?
To give us a general idea of how the economy doing
To show us the 30 best selling stock
To tell us which stocks to buy
14
There are 1,000,000 people who want to buy your product. This is the:
Economy
Supply
Incentive
Demand
15
The stock exchange is the physical location where stocks are sold and bought?
false
true
16
If the Federal Reserve raises the interest rates what will happen?
It will have no affect
People will buy more because it is less expensive
People will buy less because it more expensive
17
Why do companies sell stock?
Because it is fun
To raise money to pay off loans
To pocket the profit
To raise money to purchase more capital

BU20 2.01-03 Economics Basics Flashcards | StudBud