can someone please help? i missed the review and didnt have time to study becuase of a kidney infection. ill give 10 points to whoever can save me from a failing grade. there all multiple answer questions with only 3 options. please guys i would normaly do my homework on my own but i really need help.
1. What types of economies operate without the help of money? (1 point)
barter
command
monetary
2. Almost all existing economies can be described as what type of economy? (1 point)
traditional
command
mixed
3. A capitalist system can also be called a: (1 point)
market economy
command economy
mixed economy
4. What is the next step after making the decision to purchase a good or service? (1 point)
gather information
make the purchase
consider the opportunity cost
5. For consumers it is important to make sure savings are not outweighed by (1 point)
cost of transportation.
comparison shopping.
age of the product.
6. What is the name of the type of store that offers bulk items at low costs? (1 point)
neighborhood stores
convenience stores
club warehouses
7. What is the name of the type of stores that are open longer hours but have the trade-off of higher prices? (1 point)
neighborhood stores
convenience stores
club warehouses
8. A direct relationship between supply and demand, based on increasing prices, is best shown with the (1 point)
upward sloping curve of the supply curve.
downward sloping curve of the supply curve.
upward sloping curve of the demand curve.
9. How many factors determine supply? (1 point)
2
4
6
10. As the price of a good decreases, the quantity demanded _____ and the quantity supplied _____. (1 point)
increases, increases
decreases, decreases
increases, decreases
11. The term capital is defined as (1 point)
any human-made resources used to create other goods and services.
natural resources used to make goods and services.
groups of resources used to make all goods and services.
12. The term scarcity is defined as (1 point)
any human-made resources used to create other goods and services.
natural resources used to make goods and services.
limited quantities of resources to meet unlimited wants.
13. The term land is defined as (1 point)
any human-made resources used to create other goods and services.
a natural resource used to make goods and services.
groups of resources used to make all goods and services.
14. The term entrepreneurship is defined as (1 point)
the study of how people seek to satisfy their needs and wants by making choices.
the organizational abilities and risk-taking involved in starting a new business or introducing a new product.
the skills involved in producing goods or services.
15. The process in which a business estimates the cost of an action versus the benefits of an action is called (1 point)
financing.
cost-benefit analysis.
profit margin.
16. A market survey gathers information about (1 point)
potential consumers of a product.
potential producers of a product.
potential labor force to create a product.
17. After a product has been developed, what is the next step for a business? (1 point)
sell the product
promote the product
create a marketing plan
18. A resource is used to produce a good, therefore it cannot be used to produce something else. This is called (1 point)
opportunity costs.
trade off.
substitution effect.
19. The value of the next best alternative that is given up to obtain a preferred item is called (1 point)
opportunity costs.
trade off.
substitution effect.
20. Wealth of Nations was a book written by (1 point)
Thomas Jefferson
George Washington
Adam Smith
Zachary
























Patrick
1. What types of economies operate without the help of money? (1 point)
barter
2. Almost all existing economies can be described as what type of economy? (1 point)
mixed
3. A capitalist system can also be called a: (1 point)
market economy
4. What is the next step after making the decision to purchase a good or service? (1 point)
gather information
5. For consumers it is important to make sure savings are not outweighed by (1 point)
cost of transportation.
6. What is the name of the type of store that offers bulk items at low costs? (1 point)
club warehouses
7. What is the name of the type of stores that are open longer hours but have the trade-off of higher prices? (1 point)
convenience stores
8. A direct relationship between supply and demand, based on increasing prices, is best shown with the (1 point)
upward sloping curve of the supply curve.
9. How many factors determine supply? (1 point)
Need more information
10. As the price of a good decreases, the quantity demanded _____ and the quantity supplied _____. (1 point)
decreases, decreases
11. The term capital is defined as (1 point)
any human-made resources used to create other goods and services.
12. The term scarcity is defined as (1 point)
limited quantities of resources to meet unlimited wants.
13. The term land is defined as (1 point)
a natural resource used to make goods and services.
14. The term entrepreneurship is defined as (1 point)
the organizational abilities and risk-taking involved in starting a new business or introducing a new product.
15. The process in which a business estimates the cost of an action versus the benefits of an action is called (1 point)
cost-benefit analysis.
16. A market survey gathers information about (1 point)
potential consumers of a product.
17. After a product has been developed, what is the next step for a business? (1 point)
create a marketing plan
18. A resource is used to produce a good, therefore it cannot be used to produce something else. This is called (1 point)
substitution effect.
19. The value of the next best alternative that is given up to obtain a preferred item is called (1 point)
trade off.
20. Wealth of Nations was a book written by (1 point)
Adam Smith