01.01 How Do I Plan for Success Pre-Assessment – Flashcards

Neeraj carves wooden squirrels, which he sells to benefit the local nature center. He charges $30 for each squirrel. Squirrels are Neeraj's economic answer to which question?

Use the above graph to answer the following question. A decrease in demand would result in a shift of

Use the above graph to answer the following question. A move from point S to point U indicates

Costs Benefits 1. Hire more workers 1. Set own hours of operation 2. Take on more operations costs 2. Have more space and control over appearance 3. Divide time between market and shop—or close stall at market 3. Serve more customers 4. Accept more financial risk 4. Make and sell more food items Ezra runs a gyro stall at the local farmers' market. He would like to expand and open his own shop downtown. He has made the chart above, listing some potential costs and benefits of expansion. What concept does this chart most clearly illustrate?

What is the purpose of money?

There is a shortage of gasoline at one dollar per gallon. The equilibrium price for gasoline is

Equilibrium price is the

Bananas are selling briskly at local stores, and supply is easy to maintain. A nationwide ad campaign emphasizes the health benefits of bananas causing demand to shift to D2. How might store owners respond, and how would it affect the equilibrium price?

Which economic question is addressed by targeting teenage buyers?

The supply of ice cream in town has decreased. Which of the following circumstances most likely caused the reduction?

You have to choose between playing a team sport or taking music lessons because the practices overlap. This choice demonstrates that

In the graph above, a shift from point A to point B represents which of the following?

The economy goes into decline, and many people suffer monetary loss. Which reason best explains why the federal government would not print more money to increase the supply of currency?

A pop-music icon has become the spokesperson for a new style of jeans. Which of the following is the most likely result?

Which of the following is an example of counterfeiting?