what would cause the entire demand curve to shift left (decrease)

increase in price of compliment

If a the price of an item drops

quantity demanded will increase

which of the following is a for profit business

limited liability corporation, conglomerate, multinational

One advantage to corporations is that

stock holders (owners) have limited liability

limited partner has limited liability

which companies have unlimited liability

sole proprietorships and partnerships

characteristics of elastic demand are

many substitutes, small price change = large quantity demand change

when determining what type of business you want (corporation, partnership, sole) you determine

profit you expect, amount of control you want, need for cash for yourself

what would cause the demand for walkmans to increase

the price of headphones decreases

how can a company have higher profits, but lower revenue

the company has lower expenses than competitors

what is the difference between demand and quantity demanded

demand is the entire curve and quantity demand is a point

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chapter 3 and 4 economics with financial literacy

27 termsStudBud Administration377 plays

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Questions 27

Answers

1
what would cause the demand line to shift right
decrease in population
an increase in the price of a compliment
a decrease in the price of a substitute
increase in wealth
2
which direction does a demand line go
slope down from left to right
slope up from right to left
slope down from right to left
slope up from left to right
3
what would cause the entire demand curve to shift left (decrease)
increase in price of substitute
increase in price of compliment
increase in income
increase in population
4
If a the price of an item drops
quantity demanded will decrease
demand will increase
demand will decrease
quantity demanded will increase
5
which of the following is a for profit business
limited liability corporation
conglomerate
producer cooperative
multinational
6
If the price decreases from $8 to $5, what is the change in quantity demanded
increase by 3,000
increase by 12,000
decrease by 4,000
decrease by 2,000
7
who is the owner in a corporation
CEO
stock holders
president of the company
board of directors
8
One advantage to corporations is that
stock holder have immediate control over daily operations
stock holder have double taxation
stock holders (owners) have limited liability
businesses are subject to little government regulation
9
how many units are demanded at $4
20
40
10
30
10
The Security and Exchange Commision
regulates corporations
regulates the chamber of commerce
regulates the sale of stocks
regulates labor unions
11
What would cause this shift to occur
increase in wealth
prices to drop
price of a substitute to drop
decrease in income
12
limited partnerships
limited partner has limited liability
all partners have unlimited liability
limited partner has unlimited liability
all partners have limited liability
13
when the price increases but has little to no impact on the quantity demanded then the item is
inelastic
unit elastic
elastic
14
which companies have unlimited liability
sole proprietorships and partnerships
corporations, partnerships and sole proprietorships
corporations and sole proprietorships
corporations and partnerships
15
which is the most common form of business
corporation
partnership
sole proprietorship
limited liability company (LLC)
16
If Burger King and Mcdonald's merge together, it would be an example of
limited partnership
a conglomerate
vertical merger
horizontal merger
17
what type of company produces multiple unrelated items
multinational
conglomerate
vertically merged
horizontally merged
18
price and quantity demanded are
inversely related
not related
directly related
19
How many units are demanded at $25 per unit
60
40
30
50
20
characteristics of elastic demand are
large price change = small quantity demand change
many substitutes
small price change = large quantity demand change
few substitutes
21
what would cause a movement from A to B on the demand curve
a decrease in wealth
an increase in the price of the product
a drop in price of the product
an increase in wealth
22
which is an example of a non-cash charge to a business
salary of employees
depreciation
interest payment on business loan
investment in new capital
23
when determining what type of business you want (corporation, partnership, sole) you determine
profit you expect
amount of control you want
need for cash for yourself
location of business
24
an example of inelastic demand is
Race Track gasoline
gasoline
Publix water
water
25
what would cause the demand for walkmans to increase
the price of headphones increases
the price of mp3 players decreases
the price of CD players decreases
the price of headphones decreases
26
how can a company have higher profits, but lower revenue
the company has a lower amount of sales than competitors
the company has a greater amount of sales than competitors
the company has higher expenses than competitors
the company has lower expenses than competitors
27
what is the difference between demand and quantity demanded
demand is the entire curve and quantity demand is a point
demand is a point and quantity demand is the entire curve

chapter 3 and 4 economics with financial literacy Flashcards | StudBud

chapter 3 and 4 economics with financial literacy

27 termsStudBud Administration377 plays

chapter 3 and 4 economics with financial literacy

Flashcards27 cardsFPractice quizPHost liveL

Questions 27

Answers

1
what would cause the demand line to shift right
decrease in population
an increase in the price of a compliment
a decrease in the price of a substitute
increase in wealth
2
which direction does a demand line go
slope down from left to right
slope up from right to left
slope down from right to left
slope up from left to right
3
what would cause the entire demand curve to shift left (decrease)
increase in price of substitute
increase in price of compliment
increase in income
increase in population
4
If a the price of an item drops
quantity demanded will decrease
demand will increase
demand will decrease
quantity demanded will increase
5
which of the following is a for profit business
limited liability corporation
conglomerate
producer cooperative
multinational
6
If the price decreases from $8 to $5, what is the change in quantity demanded
increase by 3,000
increase by 12,000
decrease by 4,000
decrease by 2,000
7
who is the owner in a corporation
CEO
stock holders
president of the company
board of directors
8
One advantage to corporations is that
stock holder have immediate control over daily operations
stock holder have double taxation
stock holders (owners) have limited liability
businesses are subject to little government regulation
9
how many units are demanded at $4
20
40
10
30
10
The Security and Exchange Commision
regulates corporations
regulates the chamber of commerce
regulates the sale of stocks
regulates labor unions
11
What would cause this shift to occur
increase in wealth
prices to drop
price of a substitute to drop
decrease in income
12
limited partnerships
limited partner has limited liability
all partners have unlimited liability
limited partner has unlimited liability
all partners have limited liability
13
when the price increases but has little to no impact on the quantity demanded then the item is
inelastic
unit elastic
elastic
14
which companies have unlimited liability
sole proprietorships and partnerships
corporations, partnerships and sole proprietorships
corporations and sole proprietorships
corporations and partnerships
15
which is the most common form of business
corporation
partnership
sole proprietorship
limited liability company (LLC)
16
If Burger King and Mcdonald's merge together, it would be an example of
limited partnership
a conglomerate
vertical merger
horizontal merger
17
what type of company produces multiple unrelated items
multinational
conglomerate
vertically merged
horizontally merged
18
price and quantity demanded are
inversely related
not related
directly related
19
How many units are demanded at $25 per unit
60
40
30
50
20
characteristics of elastic demand are
large price change = small quantity demand change
many substitutes
small price change = large quantity demand change
few substitutes
21
what would cause a movement from A to B on the demand curve
a decrease in wealth
an increase in the price of the product
a drop in price of the product
an increase in wealth
22
which is an example of a non-cash charge to a business
salary of employees
depreciation
interest payment on business loan
investment in new capital
23
when determining what type of business you want (corporation, partnership, sole) you determine
profit you expect
amount of control you want
need for cash for yourself
location of business
24
an example of inelastic demand is
Race Track gasoline
gasoline
Publix water
water
25
what would cause the demand for walkmans to increase
the price of headphones increases
the price of mp3 players decreases
the price of CD players decreases
the price of headphones decreases
26
how can a company have higher profits, but lower revenue
the company has a lower amount of sales than competitors
the company has a greater amount of sales than competitors
the company has higher expenses than competitors
the company has lower expenses than competitors
27
what is the difference between demand and quantity demanded
demand is the entire curve and quantity demand is a point
demand is a point and quantity demand is the entire curve