QUIZ 1- APPLIED ECONOMICS

Name: (Last Name, First Name, Middle I.)

Evaluate responses using AI:

OFF

1. It is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

• A. Banking/Financial Institution
• B. Agriculture
• C. Manufacturing
• D. Outsourcing

2. It is tangible,can be touched and seen, and are produced to satisfy consumers wants.

• A. Products
• B. Service
• C. Retail/Merchandising
• D. Agriculture

3. A banking or financial institution is a company involved in handling financial transactions such as deposits, loans, and currency exchange

• True
• False

4. Retail or merchandising businesses buy products from manufacturers and sell them directly to consumers.

• True
• False

5. Explain the role of financial institutions in the economy.