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Economics Final Review Part 2 Flashcards | StudBud
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Economics Final Review Part 2
Economics Final Review Part 2
40 terms
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StudBud Administration
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A review for the semester final in Economics.
Flashcards
40 cards
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Practice quiz
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Questions
40
Answers
1
Shares of corporation stock that have voting benefits are called
common stock
voting stock
preferred stock
dividend stock
2
The amount you pay to borrow someone else's money is called
collateral
the principal
interest
a dividend
3
The factors of production include all of the following EXCEPT
capital
labor
stock
land
4
A deliberate work stoppage is known as a
embargo
strike
union
boycott
5
All items that a business or household hold a legal claim to are called
startups
dividends
stock
assets
6
A temporary partnership is called a
monopoly
sole proprietorship
oligopoly
joint venture
7
Asking the public not to buy a corporation's goods is an example of a
strike
lockout
quota
boycott
8
All of the following are major credit bureaus EXCEPT
Equifax
Experian
Transunion
Creditrust
9
Two items used together are called
complements
partners
identical
substitutes
10
Laws that prevent monopolies are known as
non compete laws
antimonopoly laws
antitrust laws
consumer credit laws
11
A new business enterprise is called a
oligopoly
innovation
startup
joint venture
12
An increase in an asset from the time it is bought until the time it is sold is called
a capital loss
a capital gain
interest
a dividend
13
The portion of a corporation's profits paid to its stockholders is called a
business profit
quota
dividend
bond
14
A single seller controlling the market is a(n)
joint venture
monopoly
entrepreneurship
oligopoly
15
A type of business owned by many people but treated as a separate legal entity is called a
partnership
corporation
sole proprietorship
joint venture
16
One stock index is the
FDIC
DOW
SEC
CPI
17
A financial institution owned and operated by the members themselves is called a
credit union
finance company
brokerage firm
commercial bank
18
An investment company that pools the money of investors to buy stocks or bonds is called a
mutual fund
union
joint venture
oligopoly
19
The price where quantity supplied is equal to quantity demanded is called
the balanced price point
the perfect price point
the equilibrium price point
the complimentary price point
20
"Bait and switch" is an example of
deceptive advertising
not getting enough advertising
running around in circles
fishing for large fish
21
The negotiation process between unions and management is called
a legal injunction
a restraining order
collective bargaining
a joint venture
22
The largest stock exchange in the world is the
SEC
S & P 500
DOW
NYSE
23
A legal minimum price is a(n)
price stabilizer
equilibrium price point
price point
price floor
24
Price responsiveness is called
elasticity
a price ceiling
a price floor
dropping equal prices
25
All of the following are durable goods EXCEPT
gasoline
car
furniture
washing machine
26
A type of investment where you loan a company money is called a
bond
stock
mutual fund
principal
27
A supply of business items used by a business is called
a quota
stocks
dividends
inventory
28
The Law of Supply states that as price goes up quantity supplied goes
up
down
29
A tariff is a(n)
import tax
insurance tax
cigarette tax
export tax
30
A person who organizes, manages and assumes the risks of a business is called a(n)
broker
entrepreneur
lender
director
31
A private retirement plan allowing you to defer taxation until you retire is called a(n)
FDIC
IRA
SEC
CD
32
The Equal Credit Opportunity Act makes it illegal to discriminate on the basis of
money
pets
gender
credit score
33
The econ principal that states the more you get of a good, the less likely you are to buy more
is the law of demand
is the law of supply
is the law of diminishing returns
is the law of diminishing marginal utility
34
Money that is legal tender is called
bartering money
fiat money
commodity money
representative money
35
All of these are US government securities EXCEPT
Treasury bills
Treasury notes
Treasury stocks
Treasury bonds
36
The value of the next best alternative that was given up is called the
differentiation of products
trade-off
fringe benefit
opportunity cost
37
Professional workers are in the work category known as
skilled trades
industrial workers
blue collar
white collar
38
A contract to rent a house is a
contract form
fair housing act
lease
limited liability form
39
Two or more people forming a business makes that business a
partnership
corporation
sole proprietorship
union
40
The FDIC insures
bank deposits
mutual funds
brokerage accounts
cars