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What's Going On?
100

The owner of a company would like to raise money for expansion by selling stock in the business. To do this, they would need to:


  1. Offer a franchise

  2. Have unlimited liability

  3. Form a corporation

  4. Form a partnership


Form a corporation

100

When the price of premium gasoline increased to $3.75 a gallon, Joseph bought regular gasoline instead, because it cost $2.97 a gallon. This is an example of:


  1.  a buyer's market 

  2. a price ceiling 

  3. the market clearing price 

   4. the substitution effect 


the substitution effect

100

Which of the following is an example of a direct channel of distribution for consumer goods:


  1. Producer to wholesaler to retailer to consumer

  2. Producer to agent to retailer to consumer

  3. Producer to retailer to consumer

  4. Producer to consumer




Producer to consumer

100

 The tools used by a mechanic to tune a car are:


     A. Human resources

     B. Consumer goods

     C. Capital goods

     D. Natural resources


 C. Capital goods

  

100

What is Good Friday?


The day Jesus died on the cross.


200

Task utility is about making changes to the characteristics of a:


  1.  project 

  2. job 

  3. good 

  4. Service


Service

200

Consumers and businesses buy everything they own from:


  1.  specialty shops 

  2. chain stores 

  3. independent merchants 

  4. trade industries




trade industries

200

A producer feels that a retailer is not marketing its product to final consumers aggressively enough. This is an example of:

  1. Horizontal conflict

  2. Chargebacks 

  3. Vertical conflict

  4. Sanctions




Vertical conflict

200

Coola Cola is a leading brand of soft drink in Istanbabwe. The leading brand of potato chips there is Crumbles. In preparing Coola Cola’s new market-share strategy, what type of competition would management consider Crumbles to be?


  1. Indirect

  2. Franchise

  3. Wholesale

  4. Direct




Indirect

200

What is Easter?


Christians celebrate the resurrection of Jesus Christ.

300

In a market economy, what consumers want and need helps to answer the basic economic question of:


  1.  how products will be allocated 

  2.  who will do the production 

  3.  what products will be produced 

  4.  how products will be produced 


what products will be produced

300

Which of the following examples best illustrates cheating: 


  1. using paid work time to read your favorite sports websites

  2. pretending to be a consumer to gain competitors information

  3. downloading movies illegally online 

  4. taking credit for your co-workers idea 


pretending to be a consumer to gain competitors information

300

Which of the following is one type of information needed to compute the gross profit of a business:


  1. Income from sales

  2. Operating expenses

  3. Net profit

  4. Market share


Income from sales

300

Businesses are responsible for providing employees with a quality of work life that encourages:


  1. Friendship

  2. Recreation

  3. Retirement

  4. Productivity




Productivity

300

What are many American's upset with Trump about?


Tariffs 

And

The Stock Market affecting 401(k) plans and investment accounts 

400

A commercial building would be classified as a(n):


  1. part

  2. piece of equipment 

  3. supply 

  4. installation 


Installation

400

Neil has a coworker who doesn't think that bribery is wrong. The coworker is from another culture where bribery is much more accepted, and they try to convince Neil that it isn’t a big deal. Neil is facing an ethical dilemma because of:


  1. a lack of consequences 

  2. conflicting values 

  3. transparency 

  4. greed 


conflicting values

400

In a private enterprise economic system, consumers can choose from a variety of products as a result of:


  1. The collection of taxes

  2. Inflation

  3. Limited government control

  4. Competition




Competition

400

Which of the following has a major effect on demand for products:


  1. Product utility

  2. Labor costs

  3. Production costs

  4. Government regulations


Product utility

400

Where is Mrs. Bowen going next week?


Disneyworld!

500

What is one of the main reasons why small businesses are strongly promoted and supported by the local government? 


  1. they become a big business 

  2. they are important to the economy 

  3. they serve only their local communities 

  4. they are owned by one person 




they are important to the economy

500

What is the first step you should take when resolving an ethical dilemma? 


  1. reflect on the outcome 

  2. consider all your potential actions 

  3. figure out who's affected 

  4. identify the dilemma 


identify the dilemma

500

Which of the following situations represents a noneconomic activity:


  1. Working at a restaurant

  2. Buying gasoline for a lawn mower

  3. Thinking of things to do

  4. Trading in a car


Thinking of things to do

500

Which of the following steps in the decision making process involves determining the consequences of taking different actions:

  1. Collecting data

  2. Identifying resources

  3. Stating the problem

  4. Evaluating information


Evaluating information



500

What business just announced it's closing affecting 25,000 Rhode Islanders?


Anchor Medical