DECA Practice 2 - Economics

Question 1

Which business activity is responsible for locating and hiring employees to carry outthe work?

Accepted Answer

Human resources management

Question 2

A business receives an insurance payment because of loss by fire, this is the result of __ risk

Accepted Answer

pure

Question 3

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 4

What type of tax do businesses collect for items such as books, flowers,and shoes?

Accepted Answer

Sales

Question 5

When interest rates are low, businesses tend to

Accepted Answer

borrow for expansion

Question 6

When employees are working faster or better, they are increasing their

Accepted Answer

efficiency

Question 7

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 8

Which of the following statements is true about inflation:

Accepted Answer

It decreases the value of money.

Question 9

The general economic growth of a country is supported by its

Accepted Answer

level of productivity

Question 10

Which factors have given businesses more chances to buy and sell products at the intn'l level:

Accepted Answer

Free-trade agreements

Question 11

Which of the following statements is true about inflation:

Accepted Answer

It decreases the value of money.

Question 12

What do consumers, producers, & resource owners need to in order to make economic decisions?

Accepted Answer

Information about prices

Question 13

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 14

When interest rates are low, businesses tend to

Accepted Answer

borrow for expansion

Question 15

What type of tax do businesses collect for items such as books, flowers,and shoes?

Accepted Answer

Sales

Question 16

When Angela spent her birthday money on a designer handbag, theopportunity cost was

Accepted Answer

buying concert tickets

Question 17

What are consumers doing when they purchase goods and services in amarket economy?

Accepted Answer

Casting economic votes

Question 18

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 19

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 20

Employees who are close friends and like to spend their free time together are considered a(n)

Accepted Answer

subculture

Question 21

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 22

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 23

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

Question 24

Which of the following are capital goods:

Accepted Answer

Buildings, roads, and equipment

Question 25

What economic activity isnecessary for consumption to occur?

Accepted Answer

Production

DECA Practice 2 - Economics

Questions 25

DECA Practice 2 - Economics

Questions 25