(01.05 LC)The price of a product is set where both buyers and sellers are satisfied. Which phrase describes this price?

(01.06 MC)The U.S. economy begins to slow, so the U.S. prints more currency. What is the risk of this action?

(01.02 MC)Kim decides to go to the zoo on Tuesday afternoon. On Tuesday, Kim’s boss assigns a new project due by the end of the day. Which of the following statements describes the opportunity cost of Kim using Tuesday to work on the project?

(02.06 MC)Which of the following is a reason that businesses invest in capital, such as technology and new equipment?

(02.03 LC)Which type of business has owners that share the debts and the profits but avoid the expense of incorporation?

(02.08 MC)What role does government regulation serve in business?

(02.09 MC)Your community faces a challenging issue. You will serve on a volunteer committee to evaluate and make a recommendation to the city council. Which economic process will help your committee identify all potential solutions to the issue?

(02.09 MC)Your community faces a challenging issue. You will serve on a volunteer committee to evaluate and make a recommendation to the city council. Which economic process will help your committee identify all potential solutions to the issue?

(02.03 LC)In which type of business do the owners have protection from losing their personal assets but do not deal with double taxation?

(01.01 MC)Two friends make baked goods for a living. They buy the ingredients and follow their own recipes. Which basic economic question do they still need to answer?