POB 1.01 - Economic Systems And Decisions: Question Preview (ID: 17494)


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Walmart sends only five touch screen computers to each store is example of a company establishing:
a) Supply b) Demand c) Quantity d) Price
Consumers bought less of the old version of a video game once the new one was released is an example of consumers establishing
a) Supply b) Demand c) Quantity d) Price
Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address?
a) For whom to produce? b) How to produce? c) What to produce? d) When to produce?
Brandon's Towing Company added flat tire replacement services. Which economic question does this address?
a) For whom to produce? b) How to produce? c) What to produce? d) When to produce?
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?
a) Consumers set demand b) Producers establish supply c) Supply and demand generated competition d) Demand and supply factors influence market prices
The purchase of iPhone applications increasing daily is an example of consumers establishing
a) Supply b) Demand c) Quantity d) Price
A local company choosing to produce gaming software is an example of:
a) Market Economy b) Command Economy c) Traditional Economy d) Mixed Economy
A a central leadership group expecting all the profit from production is an example of:
a) Market Economy b) Command Economy c) Traditional Economy d) Mixed Economy
Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decision-making process has he performed?
a) Defining the problem b) Evaluating the advantages and disadvantages of each choice c) Choosing one choice d) Acting on a choice
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?
a) Defining the problem b) Evaluating the advantages and disadvantages of each choice c) Choosing one choice d) Acting on a choice
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?
a) Defining the problem b) Identifying choices c) Evaluating the advantages and disadvantages of each choice d) Choosing one choice
Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using?
a) Capital b) Human c) Natural d) Entrepreneurial
John specializes in leasing commercial buildings to manufacturing companies. In which type of resource does he specialize?
a) Capital b) Human c) Natural d) Entrepreneurial
Jane's Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is included in the dishes?
a) Capital b) Human c) Natural d) Entrepreneural
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