stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Marketing Essentials Chapter 3- Principles of Marketing Flashcards | StudBud
Explore
/
Duplicate of Marketing Essentials Chapter 3- Principles of Marketing
Duplicate of Marketing Essentials Chapter 3- Principles of Marketing
20 terms
·
StudBud Administration
·
186 plays
marketing essentials book, chapter 3
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Which economy would best describe that of the US?
command
mixed
market
traditional
2
In economic terms _____ refers to people who work in the public and private sectors.
captial
land
sea
labor
3
The term _____ refers to a period of renewed economic growth.
peak
recovery
recession
trough
4
A country's infrastructure includes...
all of the above
phone lines
highways
sewers
5
In a command economy, who decides how products are produced?
government
businesses
labor
consumers
6
Resource scarcity forces nations to make economic choices...
false
true
7
The money a firm raises is considered which factor of production?
entrepreneuership
labor
land
capital
8
As a factor of production, the term labor refers to both skilled and unskilled workers?
false
true
9
Money to start and operate a business...
labor
capital
inflation
land
10
Germany is a socialist country, therefore, Germans pay less taxes than Americans?
true
false
11
Governments raise interest rates during this time...
trough
inflation
recovery
recession
12
A tree growing in a forest is a factor of production called...
captial
land
sea
labor
13
In a market economy, who decides how products are produced?
labor
businesses
government
consumers
14
a school of fish that are caught from the sea is a factor of production called ...
labor
captial
sea
land
15
What is the organized way a nation provides for the needs and wants of its people?
capital
purely command
economy
resources
16
In economic terms, land , labor, and capital refers to ...
free enterprise system
infrastucture
factors of production
scarcity
17
In a command economy, it is the consumers that decide what items will satisfy their wants/needs
false
true
18
Measurement of the amount of goods and services people have...
standard of living
capital
inflation
specialization
19
In a traditional economy, who decides how products are produced?
tradition
businesses
government
consumers
20
In a market economy, who decides whether a business will survive or fail?
the competitiors
the government
the consumers
the business itself
