Social Studies

Which is the most important function of banks in an economy?

A.

extending credit

B.
guarding savings

C.
providing mutual fund options

D.
managing employee pay systems
__________

Customers cannot purchase every product. How does this fact affect companies that make products?

A.

They increase costs to make up for low sales.
B.

They decrease quality to make up for low sales.
C.

They provide better value so that customers choose their products.
D.

They provide fewer options so that customers choose their products.
________________________
Which of the following is a cost of production? Select the two correct answers.

A.

improving processes
B.

buying raw materials
C.

spending time working
D.

paying property taxes
E.

choosing the best products
________________

Three Basic Economic Questions
What to produce?
How to product it?
??



Use the table to answer the question.

What is the third Basic Economics Question?

A.

How much to produce?
B.

For whom to produce?
C.

Where to produce?
D.

What natural resources are used to produce?
________________

Which of the following economic actions demonstrates a negative incentive?

A.

An employee is fired.
B.

An item is put on sale.
C.

The cost of production decrease.
D.

The board of a company invests more.

__________

Which government action would interfere with free trade?

A.

increasing taxes on domestic producers
B.

charging duty taxes on foreign goods
C.

adding a value-added tax to consumer goods
D.

giving contracts to factories in other countries

________________________
What is an effect of the division of labor?

A.

Consumers are offered better choices.
B.

Investors pay more to start companies.
C.

Producers work more quickly.
D.

Employees learn how to produce an entire product.
______________
Which is true of how the market sets prices?

A.

Prices are set by the expected sales.
B.

Prices are set by how much consumers will pay.
C.

Prices are set by the size and location of market outlets.
D.

Prices are set by doubling the equilibrium price.
__________________________

Imagine that the amount of milk being purchased in the United States suddenly decreased.

Which of the following is the most likely cause?

A.

increased price of milk
B.

increased supply of milk
C.

decreased demand for milk
D.

decreased competition for milk
___________

Imagine your town has a local bike store called Brianna’s Bikes. After years of good business, a larger competing chain store opens up across the street. This new store, David’s Bike Depot, offers specials such as a family pack of helmets for a lower price and free bike tune-ups with a minimum purchase.

Use the passage to answer the question.

Which positive effects would likely result from this new competition? Select the two correct answers.

A.

fewer choices
B.

better prices
C.

higher quality
D.

higher wages
Imagine your town has a local bike store called Brianna’s Bikes. After years of good business, a larger competing chain store opens up across the street. This new store, David’s Bike Depot, offers specials such as a family pack of helmets for a lower price and free bike tune-ups with a minimum purchase.

Use the passage to answer the question.

Which positive effects would likely result from this new competition? Select the two correct answers.

A.

fewer choices
B.

better prices
C.

higher quality
D.

higher wages
Imagine your town has a local bike store called Brianna’s Bikes. After years of good business, a larger competing chain store opens up across the street. This new store, David’s Bike Depot, offers specials such as a family pack of helmets for a lower price and free bike tune-ups with a minimum purchase.

Use the passage to answer the question.

Which positive effects would likely result from this new competition? Select the two correct answers.

A.

fewer choices
B.

better prices
C.

higher quality
D.

Please help :)

higher wages

  1. 👍
  2. 👎
  3. 👁
  1. My bad, the last question higher wages is option D.

    1. 👍
    2. 👎
  2. You are asking for answers, and this is not good. This is almost a whole test!

    1. 👍
    2. 👎
  3. Their are others who do this, am I not aloud?

    1. 👍
    2. 👎
  4. It is cheating.

    1. 👍
    2. 👎
  5. Sorry please forgive me.

    1. 👍
    2. 👎
  6. Students who cheat will be banned.

    Be aware.

    1. 👍
    2. 👎
    👤
    Writeacher
  7. so what is the answer

    1. 👍
    2. 👎
  8. it a practice not a test alexiaaa what ever your name is

    1. 👍
    2. 👎
  9. i'll give you the answers after i'm done and people that say it not true back of cuz you cant do noting

    1. 👍
    2. 👎
  10. im almost done

    1. 👍
    2. 👎
  11. wait

    1. 👍
    2. 👎
  12. got the answers

    1. 👍
    2. 👎
  13. Economics basics pretest
    1.A
    2.C
    3.B and C
    4.B
    5.A
    6.B
    7.C
    8.B
    9.A
    10.B and C
    u welcome 100%

    1. 👍
    2. 👎
  14. and its called review

    1. 👍
    2. 👎
  15. I ask my sister to look at the answers and help me on it and explain how its right and how its wrong and I never cheated in my Life

    1. 👍
    2. 👎
  16. Heads up my dudes, time for the quick check:
    1. A, B, E
    2. C
    3. B
    4. B
    ( credit to "UnaLoca" )

    1. 👍
    2. 👎
  17. "alexiaaa's hater" is correct:) 100%!

    1. 👍
    2. 👎
  18. dont you guys think there are to many B answers in alexiaaa's haters answers im just saying

    1. 👍
    2. 👎
  19. OOF maybe i judge to quickly sorry my bad thank you Alexiaaa's hater sorry about that guys dont worry her/he answers are right

    1. 👍
    2. 👎
  20. why would i lie

    1. 👍
    2. 👎
  21. alexiaaa’s hater is 100% CORRECT THANK YOUUUUUU

    1. 👍
    2. 👎
  22. OMG THANK YOU ALEXIA’S HATER I GOT 100% 10/10 THANK YOU SO MUCH

    1. 👍
    2. 👎
  23. u welcome

    1. 👍
    2. 👎
  24. alexia's haters are correct if your from connexus academy 100%

    1. 👍
    2. 👎
  25. yas

    1. 👍
    2. 👎
  26. after_sans7 is rightttttttttttttttttttt btwwwwww 10000000%

    1. 👍
    2. 👎
  27. Thank you Alexiaaa’s hater because of you people won’t fail their schoolwork And please because of you I got 100%

    1. 👍
    2. 👎
  28. thx for the answers for the pretest and the quick check

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. SS PLEEESSEE HELLP

    Why are banks important to producers? (1 point) Bank loans allow more people to buy products and homes. Savings accounts allow a way to make interest off profits. Checking accounts give a way to take payments from customers.

  2. Social studies

    1. If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using? (1 point) non­revolving •• revolving short term unsecured 2. Caitlin wants to buy an airline ticket, but she’s

  3. Social studies

    Which action would be consistent with a person who believe in civil disobedience? ~ A.) A Know-Nothing party member attacking an immigrant. B.) A conductor on the Underground Railroad guiding escapes slaves. C.) An angry citizen

  4. Social Studies

    Which type of economic system has the highest level of government control? A. traditional economy B. market economy C. command economy D. mixed economy

  1. Social Studies

    Why are banks important to producers? ANSWERS: A. Bank loans allow more people to buy products and homes. B. Savings accounts allow a way to make interest off profits. C. Checking accounts give a way to take payments from

  2. History

    18.)What did people in the both the North & the South have in common during the late 1800's? A)People increased their use of both renewable and non-renewable natural resources. B)Factories, railroads, and industry were more

  3. Government US

    2. Which of the following statements best describes the relationship today between government and the economy in the United States? a. The economy is largely self-regulating. b. The government subsidizes economic interests but

  4. Macroeconomic

    All of the following statements are true of the Federal Reserve EXCEPT: A. Acts as the central bank for all countries in the world. B. Along with the Board of Governors, the chairperson of the Federal Reserve determines monetary

  1. History

    8.)How did the case of McCulloch vs. Maryland affect economic practices in the United States? A.)It gave the states the right to tax federal banks B.)It gave the people the right to create private banks C.)It gave congress the

  2. History

    Which type of economic system has the highest level of government control? A. traditional economy B. market economy C. command economy D. Which of the following is a feature of a good budget? A. money reserved for saving B. income

  3. Social Studies Business

    1. If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using? A) Non-Revolving B) Revolving C) Short Term D) Unsecured 2. Caitlin wants to buy an airline ticket, but she's uncomfortable

  4. Probability - PLEASE HELP

    From industry statistics, a credit card company knows that 0.8 of its potential card holders are good credit risks, and 0.2 are bad credit risks. The company uses discriminant analysis to screen credit card applicants and

You can view more similar questions or ask a new question.