CHMS CE12c,d

Which of the following is NOT a reason that states and nations trade?

• to obtain goods and services they can't produce or produce efficiently themselves

• to create jobs

• to sell goods and services to other countries

• to lower their profit on goods and services

Which of the following would be considered a modern innovation in technology? Select all correct

• wireless internet

• wireless headphones

• smart phones

• landline phones

What is the benefit of technological innovation?

• lowers the cost of production

• raises the cost of production

• cost of production stays the same

Governments use tax revenue from individuals and businesses to provide ___________.

• for business expansion and increased consumption
• public goods and services
• income to purchase products
• profits to buy more resources

Banks provide which of the following EXCEPT

• debit cards

• loans

• check writing services

• government subsidies

Select EACH type of private financial institution.

• banks

• savings and loans

• credit unions

• government agencies

How do banks encourage saving and investing?

• by charging interest on loans

• by paying interest on deposits

• by raising their interest rates on loans

Which type of business may an entrepreneur establish? Select ALL that apply.

• proprietorship

• partnership

• corporation

Which of the following is NOT a reason states and nations trade?

• to create jobs

• to sell goods and services at a lower cost or lower opportunity cost

• to obtain goods they cannot produce themselves

• to buy goods and services at a higher cost

Which of the following is NOT a private financial institution?

• banks

• credit unions

• savings and loans

• department stores