PBF 5.00 Test

Which is a reason that natural resources are considered limited?

• People lack training or skills needed to do a job.
• Technology has advanced faster than training.
• Some countries are unable to manufacture them.
• The earth has certain boundaries.

A local dry cleaner that also launders and presses shirts is selling:

• Industrial supplies
• Specialty goods
• Tangible items
• Consumer services

When prices increase, producers usually:

• Increase demand
• Decrease supply
• Increase supply
• Decrease profits

A killing frost destroys 80% of Florida's citrus crop. This will most likely create:

• Pure competition
• A buyer's market
• A seller's market
• Inelastic demand

Which is an external factor that affects market price?

• Location of items in store
• Consumer buying power
• Number of items in stock
• Available credit terms

Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as which type of state?

• Military
• Capitalist
• Consumer
• Welfare

A vendor is extending credit to the Jones Company in return for the Jones Company's agreement to use the vendor as the sole source of its supplies. What federal act is the vendor and the Jones Company violating?

• Celler-Kefauver Act
• Clayton Act
• Sherman Act
• Robinson-Patman Act

Which represents a natural risk for the owner of a delivery service?

• Snowstorm
• Accident
• Rising prices
• Government intervention

Which would customers need to present at the time of purchase to get money taken off the purchase price of the item?

• Discount coupons
• Rebate certificates
• Refund checks
• Sales receipts

What is a business's net profit if it has $762,750 in income, $291,400 in operating expenses, and $238,930 in cost of goods?

• 368730.0
• 232420.0
• 471350.0
• 523820.0