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Identifying Impacts on Financial Relationships

Authored by Ross Gibson

Business

10th Grade

Used 5+ times

Identifying Impacts on Financial Relationships
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18 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A severe drought decreases agricultural (farm) output.

Long-term: Farmers need feed for their animals

Short-term: Farmers begin to look at selling up and leaving their farms

Direct: Farmers reduce their expenses on animal feed

Indirect: higher food prices as the supply of agricultural products becomes limited

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A new law increases the minimum wage

Long-term: After school jobs increase

Short-term: Immediate changes in wage costs.

Direct: can lead to higher employee morale and potentially improved productivity.

Short-term:

Immediate loss of goods.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A factory fire destroys inventory.

Indirect: Cost of repairing the fire damage

Short-term: Immediate changes in wage costs.

Direct: Directly affects the business’s payroll.

Short-term: Immediate loss of goods.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A new tax is introduced on luxury goods

Short-term: Delayed increase in demand for luxury goods due to the tax creating a sense of urgency to buy before prices rise.

Direct: Directly impacts the company’s employee benefits and compensation packages.

Short-term: Immediate increase in the cost of luxury goods for consumers due to the new tax.

Long-term: Immediately reduction in overall luxury goods sales as consumers shift to more affordable alternatives over time.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A major city experiences a long (prolonged) power outage

Long-term: Immediate increase in solar power conversions

Short-term: Immediate changes in wage costs.

Direct: Directly affects the business’s payroll.

Short-term: Immediate loss of goods.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A natural disaster leads to road (infrastructure) repairs

Short-term: Increased economic growth and job creation as a result of ongoing infrastructure improvements over several years.

Direct: Directly affects the company’s employee training programs and professional development.

Short-term: Immediate increase in expenses for repairing damaged infrastructure and restoring services.

Short-term: Immediate reduction in consumer spending due to increased costs of infrastructure repairs.

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

A recession lowers consumer confidence and spending.

Direct: Immediate drop in consumer spending and sales.

Long-term: Lower sales due to reduced demand

Short-term: Prolonged economic slowdown affecting job growth.

Indirect: Immediate decrease in retail sales and revenue.

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