Podcast
Questions and Answers
Which of the following is NOT a factor of production?
Which of the following is NOT a factor of production?
What type of economic system does the United States primarily use?
What type of economic system does the United States primarily use?
In a command economy, who controls the factors of production?
In a command economy, who controls the factors of production?
Which economic system relies heavily on profit incentives?
Which economic system relies heavily on profit incentives?
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Which organization primarily insures most banks?
Which organization primarily insures most banks?
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How much money is every savings account insured for?
How much money is every savings account insured for?
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Which investment makes a buyer part owner of a corporation?
Which investment makes a buyer part owner of a corporation?
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Which investment represents a debt to be repaid to the buyer?
Which investment represents a debt to be repaid to the buyer?
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Of the following, what is considered the safest investment?
Of the following, what is considered the safest investment?
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Which business organization allows owners to share responsibilities and profits?
Which business organization allows owners to share responsibilities and profits?
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Which of the following is NOT included in the calculation of GDP?
Which of the following is NOT included in the calculation of GDP?
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Which business organization is most common in the U.S.?
Which business organization is most common in the U.S.?
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Which determinant of productivity is not traditionally considered a factor?
Which determinant of productivity is not traditionally considered a factor?
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Which market structure allows firms to be price takers?
Which market structure allows firms to be price takers?
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Which of the following exemplifies an oligopoly market structure?
Which of the following exemplifies an oligopoly market structure?
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Income tax is an example of which type of tax?
Income tax is an example of which type of tax?
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Sales tax tends to have what effect on the incomes of people living in poverty?
Sales tax tends to have what effect on the incomes of people living in poverty?
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What is the term for the approximate average income for a worker in an economy?
What is the term for the approximate average income for a worker in an economy?
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What principle states that only those who use government services should pay for them?
What principle states that only those who use government services should pay for them?
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What is the type of banking where the bank holds a percentage of deposits and lends out the rest called?
What is the type of banking where the bank holds a percentage of deposits and lends out the rest called?
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What term refers to exchanging the use of one thing for another?
What term refers to exchanging the use of one thing for another?
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Which term describes individuals who own the factors of production and make decisions about their use?
Which term describes individuals who own the factors of production and make decisions about their use?
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What is the term for the value of the next best alternative?
What is the term for the value of the next best alternative?
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Which concept refers to limited resources and unlimited wants?
Which concept refers to limited resources and unlimited wants?
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What is a bond?
What is a bond?
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Which phrase defines the law of diminishing marginal utility?
Which phrase defines the law of diminishing marginal utility?
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What describes a good that can be used in place of another good?
What describes a good that can be used in place of another good?
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What represents the total value of all goods and services produced in a country in a year?
What represents the total value of all goods and services produced in a country in a year?
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What change should be made to increase computer production from Point C?
What change should be made to increase computer production from Point C?
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What effect does the discovery of new resources have on the production possibilities curve?
What effect does the discovery of new resources have on the production possibilities curve?
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Which of the following factors could achieve Point E on the production possibilities curve?
Which of the following factors could achieve Point E on the production possibilities curve?
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What economic condition is illustrated by Point A on the production possibilities curve?
What economic condition is illustrated by Point A on the production possibilities curve?
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Which situation could lead to the production possibilities curve being adjusted?
Which situation could lead to the production possibilities curve being adjusted?
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