BE Unit 2 2.02 Test

A characteristic of human wants is that they are

• Limited

• unchanging

• unlimited

• Consistent

Which of the following is an example of an economic want:

• Clothing

• fresh air

• Understanding

• Conversation

An example of a noneconomic want would be the desire for

• police protection

• a college education

• a friend

• Concert tickets

An economic good or service that is scarce is one that is

• is limited supply

• not made in America

• readily available

• not test-marketed

Which of the following is a characteristic of economic services:

• useful

• Tangible

• Nontransferable

• Freely available to everyone

If a good or service is scarce, consumers will usually be

• uninterested in owning it.

• able to get as much of it as they want

• unwilling to buy it

• willing to pay money to get it

Economic “votes” are cast by consumers each time they

• make a purchase

• visit a business

• respond to a survey

• participate in market research

Producers respond to consumers’ positive economic “votes” by

• decreasing production

• increasing production

• producing more industrial goods

• classifying their goods and services

                A student purchased a laptop to use for homework assignments. In economic terms, this computer would be classified as a(n) __________ good.

• capital

• consumer

• ultimate

• industrial

Each day, a restaurant sends its used linens to a laundry service to be cleaned and pressed. In economic terms, the laundry service would be classified as a(n) __________ service.

• consumer

• ultimate

• tangible

• industrial