Unit 2 Exam

A producer is someone who

• makes things.
• sells products.
• is very creative.
• employs others.

One way in which many businesses demonstrate their social responsibility toward employees is by providing them with

• a safe, secure working environment.
• free meals.
• regular entertainment.
• a stress-free atmosphere.

A characteristic of human wants is that they are

• unlimited.
• limited.
• unchanging.
• consistent.

Cash register tapes and shipping forms used by a business would be classified as industrial

• supplies.
• equipment.
• parts.
• materials.

The inputs that allow businesses to operate are called economic

• resources.
• services.
• models
• incentives.

Finding alternative sources of power for consumer use, such as replacing gas and oil with solar energy, is an example of responding to limited __________ resources.

• natural
• human
• capital
• technology

Into what two categories can wants be divided?

• Unlimited and limited
• Unlimited and economics
• Economic and noneconomic
• Unlimited and noneconomic

Two factors involved in determining the value of a resource, good, or service are

• demand and desires.
• availability and trade-offs.
• availability and demand.
• productivity and opportunity costs.

To provide utility, a product must

• be innovative.
• be economical.
• look appealing.
• provide satisfaction.

The Internet creates/enhances form utility by

• offering online shopping.
• providing television streaming as an alternative to cable.
• providing customers with product information.
• allowing goods to be found and purchased quickly.