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- 1. Multiple ChoiceThe amount of goods available:SupplyDemandUtilityEquilibrium
- 2. Multiple ChoiceThe tendency of suppliers to offer more of a good at a higher price:Law of SupplyLaw of DemandLaw of EconomicsLaw of Net Income
- 3. Multiple ChoiceThe number one goal of a business is:EqualityGood Working ConditionsProfitCharitable Contributions
- 4. Multiple ChoiceThis is a chart that lists how much of a good a supplier will offer at different prices:Demand ScheduleSupply ScheduleEconomics ScheduleProfit Schedule
- 5. Multiple ChoiceA supply curve slopes:UpwardDownwardVerticalNot at All
- 6. Multiple ChoiceThe only thing that causes movement along a supply or demand curve:PriceQuantityClimateWeather
- 7. Multiple ChoiceHow much the addition of one more worker will benefit the companyIssue of marginal returnsProfit IncreaseDemand scheduleNone of the above
- 8. Multiple ChoiceWhich of these is not a fixed (constant) cost?RentMinimum WageTaxesCost of supplies
- 9. Multiple ChoiceFor a business, fixed costs + variable costs =ProfitRevenueTotal CostGains
- 10. Multiple ChoiceWhich of these businesses are affected by government regulation?FordGeneral ElectricMcDonaldsAll of the Above
- 11. Multiple ChoiceRegulation affects which aspects of business?Pollution EmissionsCleanlinessPricesAll of the above
- 12. Multiple ChoiceThe desire to own something and the ability to pay for it:SupplyDemandEconomicsSchedule
- 13. Multiple ChoiceConsumers buy more of something when it costs less:Law of supplyLaw of demandLaw of purchaseLaw of trade
- 14. Multiple ChoiceConsumers buy a different good when the price of something gets too high:Substitution effectIncome effectWeather effectDemand effect
- 15. Multiple ChoiceA demand curve slopesDownwardUpwardVerticalHorizontal
- 16. Multiple ChoiceWhich of these affects demand?WeatherAdvertisingTechnologyAll of them
- 17. Multiple ChoiceAn increase in income shifts the demand curve to the:RightLeftTopBottom
- 18. Multiple ChoiceSomething that is very sensitive to a change in price:ElasticInelastic
- 19. Multiple ChoiceSomething whose demand doesn't change when price changes:InelasticElastic
- 20. Multiple ChoiceItems that businesses make that must be purchased together:ComplementsSubstitutesLuxuriesNecessities
- 21. Multiple ChoiceThe point at which the demand curve meets the supply curve:EqualizerEquilibriumMarket StabilityIntersection
- Answer choicesTagsAnswer choicesTags