BE Unit 2 2.02

Front

A form of demand for products in which changes in price correspond to changes in demand is:

Back

elastic

Front

A characteristic of a seller's market is:

Back

higher prices

Front

The economic resource where people work to produce goods or services are: capital goods, human resources, natural resources, noneconomic goods

Back

human resources

Front

To prepare for effective decision-making that ensures the efficient delivery of products to the marketplace, one should study: marketing, economics, job outlooks, supply chains

Back

supply chains

Front

Economic resources that help people be more productive are: human resources, natural resources, capital goods resources, nonrenewable resources

Back

human resources

Front

The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters?

Back

The price will increase, and the supply will increase.

Front

New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?

Back

surplus

Front

ABC Corporation bought a new conveyor belt. What type of good is the conveyor belt?

Back

capital good

Front

The Brooks Company produces sneakers and studies trends in the marketplace to price their sneakers. The Brooks Company supplied as many sneakers as consumers demanded to create which market condition?

Back

equilibrium

Front

A characteristic of an economic service is that it is:

Back

useful