Question 1

What are substitute goods?

Accepted Answer

A)  goods that can be used in place of others 
B)  goods that can be modified to replace others 
C)  goods that complement others 
D)  goods that can be used to repair others 
E)  goods that experience seasonal changes in demand 
A)  goods that can be used in place of others 
B)  goods that can be modified to replace others 
C)  goods that complement others 
D)  goods that can be used to repair others 
E)  goods that experience seasonal changes in demand

Question 2

Name the four parts of the business cycle and describe how they relate to each other.

Accepted Answer

The peak of a business cycle occurs when

Question 3

The amount of a product or service that is available for purchase at any given time is called ________.

Accepted Answer

A)  commodity 
B)  surplus 
C)  supply 
D)  demand 
E)  shortage 
A)  commodity 
B)  surplus 
C)  supply 
D)  demand 
E)  shortage

Question 4

Pilar's daughter wants a Betty the Builder doll for Christmas.When Pilar gets to the toy store they are sold out,so she goes to another store.There she is told that they have a limited quantity,which will go on special sale at 6 a.m.the next morning-and that she'd better get in line early.This is an example of which of the following determinants of demand?

Accepted Answer

A)  complementary goods 
B)  population changes 
C)  substitute goods 
D)  consumer preference 
E)  changes in income levels 
A)  complementary goods 
B)  population changes 
C)  substitute goods 
D)  consumer preference 
E)  changes in income levels

Question 5

One example of complementary goods is ________.

Accepted Answer

A)  cheese and crackers 
B)  cable television and Internet service 
C)  dog food and a dog bowl 
D)  a cell phone and wireless phone service 
E)  magazines and newspapers 
A)  cheese and crackers 
B)  cable television and Internet service 
C)  dog food and a dog bowl 
D)  a cell phone and wireless phone service 
E)  magazines and newspapers

Question 6

________ unemployment measures unemployment caused by lack of demand for those who want to work; it generally follows the economy.

Accepted Answer

A)  Seasonal 
B)  Frictional 
C)  Structural 
D)  Cyclical 
E)  Temporary 
A)  Seasonal 
B)  Frictional 
C)  Structural 
D)  Cyclical 
E)  Temporary

What are substitute goods?

Name the four parts of the business cycle and describe how they relate to each other.

The amount of a product or service that is available for purchase at any given time is called ________.

One example of complementary goods is ________.

________ unemployment measures unemployment caused by lack of demand for those who want to work; it generally follows the economy.

Business Basics

Ethics in Business

Business in a Global Economy

Small Business and the Entrepreneur

Forms of Business Ownership

Business Management and Organization

Motivation, Leadership, and Teamwork

Human Resource Management

Online Business and Technology

Production, operations, and the Supply Chain

Marketing and Consumer Behavior

Product Development and Pricing Strategies

Promotion and Distribution

Financing and Tracking Business Operations

Investment Opportunities in the Securities Market

Business Law

Constructing an Effective Business Plan

Business Communications

Finding a Job

Personal Finance

Filters

Exam 2: Economics and Banking

What are substitute goods?

Name the four parts of the business cycle and describe how they relate to each other.

The amount of a product or service that is available for purchase at any given time is called ________.

One example of complementary goods is ________.

________ unemployment measures unemployment caused by lack of demand for those who want to work; it generally follows the economy.

Business Basics

Ethics in Business

Business in a Global Economy

Small Business and the Entrepreneur

Forms of Business Ownership

Business Management and Organization

Motivation, Leadership, and Teamwork

Human Resource Management

Online Business and Technology

Production, operations, and the Supply Chain

Marketing and Consumer Behavior

Product Development and Pricing Strategies

Promotion and Distribution

Financing and Tracking Business Operations

Investment Opportunities in the Securities Market

Business Law

Constructing an Effective Business Plan

Business Communications

Finding a Job

Personal Finance

Filters