Resources are defined as______________?

A. Everything needed for the production of goods and services including human energy
B. Everything found in the ground
C. Everything that is made by people
D. None of the above

A corporation________________?

A. Is a public institution
B. Has the advantage of being able to accumulate vast amounts of capital in a short period of time
C. Can afford to pay for the latest research and technology
D. All of the above

When a business has multiple absentee owners with limited liability it is a_____________?

A. Partnership
B. Proprietorship
C. Trust
D. Corporation

Which status is in transition and difficult to classify in corporate relationships ?

A. Foreman
B. Union official
C. Stock holder
D. Ceo

Extraction of raw materials occurs in which sector of the economy ?

A. Primary
B. Secondary
C. Tertiary
D. Quaternary

Some of the advantages of a market economy include ?

A. All participants get some satisfaction
B. Scarce resources are put into goods that are in demand
C. Economic output is distributed to those who can pay the price
D. All of the above

Demand and supply are________________?

A. Market forces
B. Key economic indicators
C. Thesis and antithesis
D. Causes of inflation

A problem with laissez-faire economic policy is that there is___________________?

A. No flexibility
B. No provision for public goods
C. No profit motives
D. Responsiveness to demand

Liberals and conservatives agree to some extent that economic goals should include________________?

A. Full employment
B. Price stability
C. Adequate economic growth
D. All of the above

Adequate growth of the economy refers to the goals of__________________?

A. Maintaining current standards of living in spite of increasing population
B. Increasing gnp per capita
C. Approximately 4% growth rate per year
D. All of the above