Past Exams
What of the following is a fixed expense? Rent or Clothing
What is Rent?
A shared component of any communist country
What is a command economy?
Basic things we need it in order to survive and remain alive.
What is a need?
Always curving downward
What is a demand curve?
Home of the Whopper
What is Burger King?
The person who is covered by the insurance policy
What is a policyholder?
mix of private and public sectors working together
What is a mixed economy?
Not required to survice
What are wants?
the amount that producers want to sell is greater than the amount that consumers want to buy.
What is surplus?
First Pixar Movie
What is Toy Story?
To authorize someone to make financial and legal decisions on behalf of the individual.
What is a power of attorney?
Canada uses this type of economy
What is a mixed market economy?
All the things that humans need to produce a good or a service
What is capital?
he amount that producers want to sell is less than the amount that consumers want to buy.
What is a shortage?
First iPhone Released
What is 2007?
Which type of bank account allows for writing checks?
What is a checking account?
Economy that relies on agriculture, fishing, and hunting
What is a traditional economy?
Raw materials that are used to make other things
What are natural resources?
The amount of the product that consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied)
What is an equilibrium price?
Bees have ____ eyes
What is five eyes?
Makes it difficult to accomplish a task in regard to advertising and consumerism
What is a roach motel design?
Hands off government
What is laissez-faire ?
Resource such as forest and animals
What are renewable resources?
When prices increases, quantity supplied increases?
What is the law of supply?
Average woman is shorter than the average man by___
What is 5 inches?