What is the main advantage of a mutual fund for an investor?

It offers diversity in investment.

What are the characteristics of demand?

the desire, ability, and willingness to buy a product

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Econ Final Review I

16 termsStudBud Administration275 plays

#Review for final exam

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
Struggle among sellers to attract consumers by offering the best products at the lowest prices
property rights
voluntary exchange
competition
profit motive
2
On a demand curve, movement along the curve is a result of
a change in demand
a decrease in demand
an increase in demand
a change in price
3
Examples of products with inelastic demand:
gasoline and insulin
pens and pencils
movie and concert tickets
hamburgers and hotdogs
4
The dollar value of all final goods, services and structures produced in a country in a year is
franchise
gross domestic product
profit motive
gross national product
5
The country that has the highest per capita income and is a capitalist system is
the United States
Singapore
Germany
Mexico
6
What is the main advantage of a mutual fund for an investor?
It has a set maturity date.
Its price doesn't change much.
It can be sold at a profit.
It offers diversity in investment.
7
Which of these economic systems have the least in common?
command economy and socialism
free-enterprise economy and market economy
market economy and capitalism
command economy and capitalism
8
Changes in quantity demanded and changes in in price have a(n) ___________ relationship.
positive
indirect
neutral
inverse
9
The general level of prices of goods and services __________ when there is inflation.
all of the above
decreases
increases
remains the same
10
Which of the following is largely responsible for the growth of a free enterprise system?
profit motive
government
market efficiency
gross domestic product
11
Protection from layoffs, illnesses, injuries or disabilities falls under the goal of
economic security
economic equity
economic growth
economic efficiency
12
What are the characteristics of demand?
the ability and willingness to buy a product
the desire, ability, and willingness to buy a product
the desire and ability to buy a product
the willingness and desire to buy a product
13
What gives people and businesses the opportunity to make their own decisions?
free enterprise
profit motive
command economy
economic freedom
14
The most comprehensive measure of a nation's wealth is provided by its
net national worth
production possibilities curve
TINSTAAFL rating
gross domestic product
15
Your "creditworthiness" is based on
having a good financial relationship with a bank
all of the above
your credit history
keeping up with payments
16
Who ultimately determines the success of a product?
the store selling the product
the government
the consumer
the business producing the product

Econ Final Review I Flashcards | StudBud

Econ Final Review I

16 termsStudBud Administration275 plays

#Review for final exam

Flashcards16 cardsFPractice quizPHost liveL

Questions 16

Answers

1
Struggle among sellers to attract consumers by offering the best products at the lowest prices
property rights
voluntary exchange
competition
profit motive
2
On a demand curve, movement along the curve is a result of
a change in demand
a decrease in demand
an increase in demand
a change in price
3
Examples of products with inelastic demand:
gasoline and insulin
pens and pencils
movie and concert tickets
hamburgers and hotdogs
4
The dollar value of all final goods, services and structures produced in a country in a year is
franchise
gross domestic product
profit motive
gross national product
5
The country that has the highest per capita income and is a capitalist system is
the United States
Singapore
Germany
Mexico
6
What is the main advantage of a mutual fund for an investor?
It has a set maturity date.
Its price doesn't change much.
It can be sold at a profit.
It offers diversity in investment.
7
Which of these economic systems have the least in common?
command economy and socialism
free-enterprise economy and market economy
market economy and capitalism
command economy and capitalism
8
Changes in quantity demanded and changes in in price have a(n) ___________ relationship.
positive
indirect
neutral
inverse
9
The general level of prices of goods and services __________ when there is inflation.
all of the above
decreases
increases
remains the same
10
Which of the following is largely responsible for the growth of a free enterprise system?
profit motive
government
market efficiency
gross domestic product
11
Protection from layoffs, illnesses, injuries or disabilities falls under the goal of
economic security
economic equity
economic growth
economic efficiency
12
What are the characteristics of demand?
the ability and willingness to buy a product
the desire, ability, and willingness to buy a product
the desire and ability to buy a product
the willingness and desire to buy a product
13
What gives people and businesses the opportunity to make their own decisions?
free enterprise
profit motive
command economy
economic freedom
14
The most comprehensive measure of a nation's wealth is provided by its
net national worth
production possibilities curve
TINSTAAFL rating
gross domestic product
15
Your "creditworthiness" is based on
having a good financial relationship with a bank
all of the above
your credit history
keeping up with payments
16
Who ultimately determines the success of a product?
the store selling the product
the government
the consumer
the business producing the product