BF10 Objectives 5.01-5.02
Quiz by Myra Womble
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20 questions
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- Q1Which is a reason that natural resources are considered limited?Technology has advanced faster than trainingSome countries are able to manufacture themThe Earth has certain boundariesPeople lack training or skills needed to do the job30s
- Q2Killing frost destroys 80% of Florida's citrus crop. This will most likely create:a buyer's marketa seller's marketpure competitioninelastic demand30s
- Q3The usefulness of a product to consumers is referred to as product:scarcityallocationutilityconsumption30s
- Q4One factor that might limit the human resources available for jobs is a/an:appealing company imageorganized training programinadequate pay levelgood safety record30s
- Q5Which is an external factor that affects market price?available credit termsconsumer buying powernumber of items in stocklocations of items in store30s
- Q6Which change provides the most time utility for a consumerstaying open for business on the weekendshopping for a product in the morningarriving at a product trade show earlyasking for early delivery of a product30s
- Q7The desire for which item(s) would be considered for a non-economic want?nutritious foodnew clothinga cara walk30s
- Q8Which is a natural resource that can be renewed through people's efforts?crude oiltreeswatermineral deposits30s
- Q9Which group of words best describes wants?limited, unchanging, competingunlimited, changing, competinglimited, changing, compensatedunlimited, unchanging, compensating30s
- Q10When prices increase, producers usually:decrease supplyincrease demandincrease supplydecrease profits30s
- Q11What situation would cause prices to rise?animal rights activists march in front of a fur storea newspaper article describes poor service provided by hotelinsects destroy a large cotton cropthe corn crop is unusually large one summer30s
- Q12A local dry cleaner that also launders and presses shirt is selling:consumer servicestangible itemsspecialty goodsindustrial supplies30s
- Q13Which is an example of an economic service?concert tickettennis shoesbaseball glovescar stereo30s
- Q14In business terms, what is a profit?a holiday bonusa good investmenta monetary rewarda risky venture30s
- Q15A major characteristic of a market economy is which type of ownership of property?governmentmonopolisticlimitedprivate30s