Benchmark - Economics

Front

What is a consumer in an economic context?

Back

An individual who purchases goods and services for personal use or consumption.

Front

What term refers to the limited nature of resources?

Back

Scarcity

Front

What is the primary benefit of finding a fulfilling career?

Back

Personal satisfaction and well-being

Front

What is the primary purpose of a resume?

Back

To demonstrate your skills and qualifications to potential employers.

Front

What is the primary goal of producers?

Back

To generate profit.

Front

What is the primary purpose of income taxes in the United States?

Back

To fund public services.

Front

What is the highest point of a business cycle called?

Back

Peak

Front

The federal funds rate is:

Back

The interest rate at which banks lend money to each other overnight.

Front

What is a budget?

Back

A plan to track your income and expenses.

Front

What is the primary benefit of organizing your personal records?

Back

It allows easy access to important documents when needed.