EOC unit 2 part 3 review

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

• unchanging

• consistent

• unlimited

• limited

An example of a noneconomic want would be the desire for a

• concert tickets

• a friend

• police protection

• a college education

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

• not make in America

• readily available

• not test-marketed

• in limited supply

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

• unwilling to buy it

• willing to pay money to get it

• uninterested in owning it

• able to get as much of it as they want

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 consumer' positive economic votes by

• increasing production

• decreasing 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 an ______good.

• ultimate

• industrial

• consumer

• capital

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

• consumer

• industrial

• unlitmate

• tangible

What determines whether an economic product is an industrial product or a consumer product?

• The origin of the product

• Who produces the product

• Who buys and uses the product

• The price of the product