What is a major risk of using a financial institution?
(1 point)
Responses
The financial institution may fail entirely.
The financial institution may fail entirely.
Financial institutions may choose not to pay investors back.
Financial institutions may choose not to pay investors back.
Investors can be unable to withdraw money when they need it.
Investors can be unable to withdraw money when they need it.
Insurance will not cover any losses incurred by a financial institution.???
Insurance will not cover any losses incurred by a financial institution.
Why are banks important to producers?
(1 point)
Responses
Bank loans allow more people to buy products and homes.
Bank loans allow more people to buy products and homes.
Savings accounts allow a way to make interest off profits.
Savings accounts allow a way to make interest off profits.
Checking accounts give a way to take payments from customers.
Checking accounts give a way to take payments from customers.
Credit cards give producers low-interest loans of small amounts.
Bank loans allow more people to buy products and homes.
How do labor unions affect the economy?
(1 point)
Responses
They decrease demand by opposing low prices.
They decrease demand by opposing low prices.
They increase supply by keeping workers healthy.
They increase supply by keeping workers healthy.
They decrease supply by increasing worker wages.
They decrease supply by increasing worker wages.
They increase demand by ensuring ethical production.
They decrease supply by increasing worker wages.
How do personal savings contribute to the economy?
(1 point)
Responses
They increase the amount of money banks can invest in stocks and bonds.
They increase the amount of money banks can invest in stocks and bonds.
They increase the amount of money banks can loan to individuals and businesses.
They increase the amount of money banks can loan to individuals and businesses.
They allow consumers to invest in different areas of the economy.
They allow consumers to invest in different areas of the economy.
They allow consumers to get advice from banks on how to keep track of their money.
They increase the amount of money banks can loan to individuals and businesses.
Which type of economic institution works to provide services to a community and does not pay taxes?
(1 point)
Responses
bank
bank
market
market
non-profit
non-profit
labor union
non-profit
A popular cell phone manufacturer begins selling a new phone with many unique features. Lots of people want to buy the new phone. The old phone cost $149.00. What is the most likely price of the new phone?
(1 point)
Responses
$79.00
$79.00
$129.00
$129.00
$149.00
$149.00
$199.00