John specializes in leasing commercial buildings to manufacturing companies. In which type of resource does he specialize?
What is Capital
100
An example of a value for a command economy is:
What is a central leadership group expecting all the profit from production.
100
Brandon’s Towing Company added flat tire replacement services. Which economic question does this address?
What is What to produce?
100
In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars
each. This information would be useful for which measurement of economic activities?
What is GDP per capita
100
A report covering four quarters about the economy includes that more companies are experiencing less
production and reducing the number of employees. Which phase of the business cycle does this report describe?
What is Recession
200
Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using?
What is Natural
200
An example of a value for a market economy is a:
What is local company choosing to produce gaming software.
200
Which is an example of a company establishing supply?
What is Walmart sends only five touch screen computers to each store.
200
Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result,
over 100 teachers were released from their commitments. This information would be useful for which
measurement of economic activities?
What is Labor activities
200
A report covering several quarters about the economy includes that more companies are experiencing record
high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which
phase of the business cycle does this report describe?
What is Prosperity
300
Jane’s Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is
included in the dishes?
What is Natural
300
Tony is trying to decide on which cars to sell at his dealership. He completed a spreadsheet to compare the
options of cars. Which part of economic decision-making process has he performed?
What is Evaluating the advantages and disadvantages of each choice
300
Bryers Ice Cream Company plans to increase the quantity of ice cream sold per quarter. This is an example of
which self-regulating principle of a market economy?
What is Producers establish supply
300
If an economist researches annually the total value of homes built, this information would be useful for which
measurement of economic activities?
What is GDP
300
Department stores report monthly to the state commerce office its total sales of goods and services. This
information would be useful for which measurement of economic activities?
What is Consumer spending
400
An organization assisted two countries on settling a trade disagreement on tariffs. This action is an example of
assistance provided by which international trade organization?
What is World Trade Organization
400
Which is an example of consumers establishing demand?
What is The purchase of iPhone applications increasing daily
400
Which is an example of consumers setting the demand?
What is Consumers bought less of the old version of a video game once the new one was released.
400
A cosmetic company purchased an automatic wrapping machine that wraps a pallet of boxes in 30 seconds. To
complete the same task manually, it would take an employee almost 3 minutes. This information would be useful
for which measurement of economic activities?
What is Labor activities
400
Aruba has become globally known for its white sandy beaches. It is relied upon by many travelers from other
countries to enjoy its beaches at a reasonable cost. This is an example of what type of ADVANTAGE?
What is Absolute
500
Tina needs to find employment to earn an income. She applied for positions as a teacher, contractor, and
coordinator. Which part of the economic decision-making process has she performed?
What is Identifying choices
500
Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decision-
making process has he performed?
What is Acting on a choice
500
Jewel Manufacturing Company changed its production line to include more workers and decrease production
time. Which economic question does this address?
What is How to produce?
500
When a government agency reports annually the total amount spent to pay employees, this information is useful
for which measurement of economic activities?
What is GDP
500
Mary is proud of saving over $43,000 in a bank. She knows that her saving money at the bank will provide funds
for others to borrow money. This information would be useful for which measurement of economic activities?