Question 1(Multiple Choice Worth 4 points)
(02.01 MC)
Which type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive thru?
Product market
Factor market
Financial market
Closed market
Question 2(Multiple Choice Worth 4 points)
(02.01 MC)
Which type of market is the one in which a fast-food company buys the eggs to make a person's favorite breakfast sandwich?
Product market
Factor market
Financial market
Closed market
Question 3(Multiple Choice Worth 4 points)
(02.01 LC)
Which player in the economy supplies labor in the factor market?
Government
Households
Business firms
Rest of the world
Question 4(Multiple Choice Worth 4 points)
(02.01 MC)
Which product is an example of a capital good?
Pencils for homework
New pillows for a bed
Stock in a coffee company
Computer to track online sales
Question 5(Multiple Choice Worth 4 points)
(02.01 MC)
Which product is an example of a consumer good?
Stock share in a tech company
Dog food for a pet boarding facility
Paint sprayer for an autobody shop
Gallon of milk to use in a bowl of cereal
Question 6(Multiple Choice Worth 4 points)
(02.01 HC)
McKenzie runs a food truck business. Which of these is an example of McKenzie's activity as a supplier in the product market?
Replaces the heating element in the deep fryer
Sells fish and fried potatoes at a music festival
Takes the truck to a mechanic for monthly service
Purchases a yearly permit from the local government
Question 7(Multiple Choice Worth 4 points)
(02.01 MC)
Which type of market is the one in which a person buys stock in the fast-food company that makes their favorite breakfast sandwich?
Product market
Factor market
Financial market
Closed market
Question 8(Multiple Choice Worth 4 points)
(02.01 HC)
Dorian owns a farm and sells potatoes to local restaurants and grocery stores. Which phrase describes this information about Dorian's business?
Supplier in the factor market
Supplier in the financial market
Consumer in the product market
Consumer in the factor market
Question 9(Multiple Choice Worth 4 points)
(02.01 LC)
Which of these describes one function of a household in the economy?
Buys finished products
Sells finished products
Taxes finished products
Exports finished products
