Term
1. How does e-commerce impact the U.S. economy?
A. Competition in the marketplace is increased.
B. Consumers have fewer choices of goods.
C. More salespeople are needed in stores.
D. Prices of all goods will increase rapidly. |
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Definition
A. Competition in the marketplace is increased. |
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Term
2. How does e-commerce impact the U.S. economy?
A. Businesses compete with businesses all over the world.
B. Businesses must keep their physical stores open 24-7.
C. Consumers demand only goods produced in the U.S.
D. Consumers have less variety in the goods they purchase. |
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Definition
| A. Businesses compete with businesses all over the world. |
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Term
3. How does e-commerce impact the U.S. economy.
A. Businesses increase building rent expenses.
B. Businesses can sell and deliver goods more easily.
C. Consumers only visit physical storefronts for groceries.
D. Consumers want fewer goods available online. |
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Definition
| B. Businesses can sell and deliver goods more easily. |
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Term
4. How does e-commerce impact the U.S. economy?
A. Businesses have no need for salespeople.
B. Businesses have very little competition.
C. Consumers expect product availability 24-7.
D. Consumers refuse to shop in traditional malls. |
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Definition
| C. Consumers expect product availability 24-7. |
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Term
5. How does a bear market impact the U.S. economy?
A. Business sales will increase rapidly.
B. Businesses will be able to hire more workers.
C. Consumers will be able to spend more money.
D. Consumers will spend less money and save more. |
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Definition
| D. Consumers will spend less money and save more. |
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Term
6. How does a bear stock market impact the U.S. economy?
A. Americans will invest more money in the stock market.
B. Americans will save more money in the bank and spend less.
C. Consumers will purchase more large appliances and cars.
D. Consumers will purchase more primary and vacation homes. |
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Definition
| B. Americans will save more money in the bank and spend less. |
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Term
7. How does a bull stock market impact the U.S. economy?
A. Americans will invest less money in the stock market.
B. Consumers will purchase fewer single-family homes.
C. Consumers will purchase more large appliances and cars.
D. Consumers will save more money in the bank and spend less. |
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Definition
| C. Consumers will purchase more large appliances and cars. |
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Term
8. How does the stock market impact the U.S. economy?
A. Individuals invest in the stock market because they don't trust banks.
B. Individuals invest in the stock market to earn money for the future.
C. Individuals invest in the stock market because interest rates are high.
D. Individuals invest in the stock market to save money for clothing. |
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Definition
| B. Individuals invest in the stock market to earn money for the future. |
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Term
9. How does a bear stock market impact the U.S. economy?
A. Americans will invest less money in the stock market.
B. Americans will invest more money in the stock market.
C. Consumers will purchase more large appliances.
D. Consumers will purchase more vacation homes. |
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Definition
| A. Americans will invest less money in the stock market. |
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Term
10. How does a bull stock market impact the U.S. economy?
A. Americans will invest less money in the stock market.
B. Americans will invest more money in the stock market.
C. Consumers will purchase fewer large appliances and cars.
D. Consumers will purchase fewer single-family homes. |
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Definition
| B. Americans will invest more money in the stock market. |
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Term
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What do a mixed economy and a market economy have in common? |
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A. |
Big gap between the wealthy and the poor
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B. |
Competition in the marketplace
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C. |
Equal standard of living for all
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D. |
Government control of the marketplace
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Definition
| B. |
Competition in the marketplace
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Term
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What is an ADVANTAGE of a market economy compared with a traditional economy? |
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A. |
In a market economy, economic decisions are made the way they have always been made.
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B. |
In a market economy, innovation and competition in the marketplace are encouraged.
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C. |
In a market economy, the government decides what is produced.
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D. |
In a market economy, there is an equal standard of living for everyone.
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Definition
| B. |
In a market economy, innovation and competition in the marketplace are encouraged.
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Term
| What is a DISADVANTAGE of a market economy compared with a command economy? |
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A. |
Market economies create a huge gap between the wealthy and the poor.
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B. |
Market economies do not offer much competition for consumers.
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C. |
Market economies provide an equal standard of living for everyone.
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D. |
The government sets prices in a market
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Definition
| A. |
Market economies create a huge gap between the wealthy and the poor.
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Term
What do China's economy and France's economy have in common?
A. Both allow the market to distribute wealth.
B. Both have a strong central government that controls businesses.
C. Both have limited government control over businesses.
D. Both rely on the consumer to guide and make production decisions. |
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Definition
B. Both have a strong central government that controls businesses. |
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Term
Compare the way economic decisions are made in an Amish community with the way they are made in Cuba.
A. Individuals and government make the decisions in an Amish community.
B. Individuals make the decisions in Cuba.
C. Tradition dictates how decisions are made in Cuba.
D. Tradition dictates how decisions are made in an Amish community. |
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Definition
| D. Tradition dictates how decisions are made in an Amish community. |
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Term
| Compare the way economic decisions are made in the United States with the way they are made in China. |
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A. |
Individuals and government make the decisions in China.
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B. |
Individuals and government make the decisions in the United States.
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C. |
The government makes all the decisions in the United States.
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Tradition dictates how decisions are made in the United States.
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Definition
| B. |
Individuals and government make the decisions in the United States.
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Term
| What is a DISADVANTAGE of a traditional economy compared to the other types of economic systems? |
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A. |
Competition guides production decisions.
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B. |
Decisions are centered toward the family.
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C. |
Government takes care of people's needs.
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D. |
State-of-the-art technology is not used.
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Definition
| D. |
State-of-the-art technology is not used.
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Term
| In theory, what is an ADVANTAGE of a command economy compared with other types of economic systems? |
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A. |
Business owners are free to make their own economic decisions.
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B. |
Decisions are based on customs and the way things have always been done.
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C. |
Government makes the decisions about what is produced.
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D. |
Government provides an equal standard of living for everyone.
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Definition
| D. |
Government provides an equal standard of living for everyone.
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Term
| What is a difference between a market economy and a command economy? |
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A. |
Competition provides consumers choices in a market economy.
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B. |
Supply and demand determine prices in a command economy.
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C. |
The government ensures much competition in a command economy.
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D. |
The government selects what is produced in a market economy.
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Definition
| A. |
Competition provides consumers choices in a market economy.
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Term
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What do the economic systems in China and Cuba have in common? |
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A. |
Economic decisions are based on customs.
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B. |
Government controls or dictates what is produced.
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C. |
Government takes care of people’s needs; the market takes care of wants.
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D. |
Supply and demand regulate the economy and determine price.
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Definition
| B. |
Government controls or dictates what is produced.
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Term
[image]
| According to the Supply and Demand chart in Figure 3, when the demand is 400, what is the price suppliers will charge? |
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A. |
$0.50
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B. |
$1.00
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C. |
$1.50
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D. |
$2.00
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Definition
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Term
[image]
| According to the Supply and Demand Chart in Figure 3, at what demand does the equilibrium price occur? |
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A. |
200
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B. |
400
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C. |
600
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D. |
800
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Definition
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