Economics Test 13 thru 23

19. Which of the following is most likely to affect the selling price of roses:

23. Dow Chemical Company is an international company located in Midland, Michigan. It is one of the largest employers in the area and has a strong commitment to giving money and support to local schools. In this situation. Dow is being socially responsible to

13. Sam has been invited to go to the movies with one friend and to Dairy Queen for ice cream with another friend. Because he has only $5.00. Sam can' to both. If he decides to go to the movies, the opportunity costs of his choice is

17. Which of the following has a major effect on demand for product:

20. Who gets the goods and services produced in our economy?

16. Demand for a good is more likely to be elastic when the good is

18. Jeremy has $15,000 to spend on a new car. He found a car that cost $14,500, but he did not think the care was worth more than $12,000. The dealer told Jeremy that he has not been able to sell this model because other customers have expressed the same opinion as Jeremy. Does demand for this car exist?

15. A local hardware store purchased a large shipment of snow shovels in November in order to prepare for winter weather. The hardware store is helping to create ________ utility.

14. When a producer changes the shape of a product, this creates ________ utility.

22. Which of the following is an example of a service business:

21. One characteristic of trade-industry businesses is that they sell