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74 Multiple choice questions

  1. The inputs to produce outputs
  2. When the government spends more money than it takes in
  3. A market situation in which there are many buyers along with a relatively large number of sellers who differentiate their products from the product of competitors
  4. People have more money to eat out at places where food standards are monitored by a government agency
  5. Planning for, obtaining, and managing a company's funda
  6. The government exerts control over the allocation and distribution of all or some goods and services
  7. Goods, services
  8. The total amount of money owed by the federal government
  9. Consists of everything that a company does to identify customers needs and designs products to meet those needs
  10. Develops the benefit and feature of products
  11. Perceptible by touch
  12. Provides skill and creativity needed to bring other resources together to produce a good or service to be sold to a marketplace
  13. The questions asked by economist
  14. Operations manager
  15. The reoccurrence of periods of growth and recession in a nations economic activity
  16. Federal reserves decisions that determine the size of the supply of money in the nation and the level of interest rates
  17. A market (or industry) in which there are few sellers
  18. Perfect competition, monopolistic competition, oligopoly, and monopoly
  19. Responsible for planning, organizing, staffing, directing and controlling company's resources.
  20. Prepare information su had as reports on the cost of materials used for the production process. Internal use only
  21. Communism
  22. The person who designs and oversees the transformation of resources into goods or services
  23. The process of developing and promoting differences between ones products and all competitive products
  24. 1. What goods and services should be produced to meet consumers needs? In what quantity? When should they be produced?
    2. How should goods be produced?
    3. Who should receive the goods and services produced?
  25. Relies on both markets and the government to allocate resources
  26. Transforms raw materials into goods or services
  27. Prepare financial statements to help users both inside and outside of the organization asses financial strength of the company
  28. Needed for production process (equipment, buildings, vehicles, cash)
  29. The rise in the level of peoces
  30. Growth, high employment, and price stability
  31. Measuring,summarizing and communicating financial and managerial information
  32. The quantity of a product that buyers are willing to purchase at each of various prices
  33. Economy, government, consumer trends, and public pressure to act as good corporate citizens
  34. Management, operations, marketing, accounting, and finance.
  35. An economic system in which individuals own or operated the majority of businesses that provide goods and services
  36. The government owns all or most enterprises
  37. The study of production, distribution, and consumption of goods and services
  38. Dictates how goods and services will be allocated
  39. The economic system in which most businesses are owned and operated by individuals
  40. Has the power the control money, supply and interest rates
  41. A monthly index that measures the changes in prices of a fixed basket of goods purchased by a typical consumer in an urban area
  42. Goods and services purchased by individuals for personal consumption
  43. The price at which the buyers are willing to purchase the amount the sellers are willing to sell
  44. Prosperity, recession, depression, recovery
  45. Unable to be touched or grabbed
  46. Owners, employees, and customers.
  47. An index that measures prices that producers receive for the finished goods
  48. A term created by Adam smith to describe how an individual's personal gain benefits others and a nations economy
  49. The total value of all goods and services produced by all people within the boundaries of a country during a one year period
  50. A severe recession that lasts no longer than a typical recession and has a larger decline in business activity when compared to a recession
  51. Planned systems, and free market systems
  52. Public utilities
  53. Director of management of worldcom
  54. A decrease in the level of prices
  55. Responsible for the work performance of others
  56. When the government takes in more money in a given year than it spends
  57. A market (or industry) with only one seller, and there are barriers to keep other firms from entering the industry
  58. Transforms resources (labor, materials , money) into products
  59. Provide needed raw material
  60. The price at which the quantity demanded is exactly equal to the quantity supplied
  61. Leaving things alone
  62. Study the interactions between household and businesses and look at the ways in which the factors of production are combined to produce the goods and services people need
  63. Land, labor, capital, entrepreneurship
  64. Commercial fishermen brings his fish to the local market, he has little control over the price he gets and must accept the going market price
  65. An economic system in which the government decides what goods and services will be produced, how they will be produced, for whom available the goods and services will be produced, and who owns and controls the major factors of production
  66. Government influence on the amount of savings and expenditures; accomplished by altering the tax structure and by changing changing the levels of government spending
  67. Any activity that provides goods or services to consumers for the purpose of making profit.
  68. When 95% of those wanting to work are employed
  69. The percentage of a nations labor force unemployed at any time
  70. Control the money supply and interest rates
  71. The quantity of a product that producers are willing to sell at each value of various prices
  72. The market situation in which there are many buyers and sellers or a product, and no single buyer or seller is powerful enough to affect the price of the product
  73. Arises when a company received a patent giving it exclusive use of an invented project or process
  74. When the average of the prices for goods and Services either doesn't change or had changed very little