(03.05 MC)
Marginal Cost Analysis Graph
© Jarry1250 2010
Creative Commons Attribution-Share Alike 3.0 Unported
Trevor’s company makes fine chocolates. He has figured out how to maximize his profit What letter on the graph represents Trevor’s situation?
(03.06 MC)
Occupation | Salary |
Attorney | $77,000 |
Software Engineer | $63,000 |
Administrative assistant | $33,000 |
Elemetary school teacher | $40,000 |
Registered Nurse | $53,000 |
Construction project manager | $72,000 |
Which of these is likely true, based on the charted data?
(05.04 MC)
© 2013 FLVS
Given the data in the chart, which two countries enjoy an absolute advantage in oil production over the United States?
(03.04 MC)
Merv’s Hardware, a small family-owned store in Middletown, sells a 100-pack of garnet sandpaper for $35. The Home Shoppe, a large retail hardware chain in neighboring Morristown, sells the same product for $29. Based on this scenario, what would you expect Merv’s immediate response to be?
(03.02 MC)
Marcie wants to work as a freelance editor. She purchases a desk, computer, widescreen monitor, and ergonomic keyboard. What kind of resources are these?
(03.03 MC)
Bill and his wife, Vickie, want to start a company that develops training sessions for corporate clients. They would like to share the decisions, have few start-up costs, and protect their personal assets. Which of these would suit their needs best?
(05.02 MC)
In 2011, Cambodia had a GDP of $33.8 billion and a per capita GDP of $2,200. Nearly a third of its people lived below the poverty level, and average life expectancy was 62.5 years. Which of these additional factors would most support the conclusion that Cambodia is a developing economy rather than an emerging economy?
(05.02 MC)
http://hillsborough.flvs.net/webdav/assessment_images/educator_econ_v13/06_06A_exam/0606_g13_q2.jpg
© 2013 FLVS
Given the data in the chart, which of the following statements is true?
(05.05 LC)
To protect consumers from potentially dangerous manufactured goods, the U.S. government is most likely to use which kind of trade barrier?
(05.01 MC)
© 2013 FLVS
Which of the following entities would most likely agree with Adam Smith’s statement?
(01.06 HC)
© 2013 FLVS
Look at the graph. A bookstore owner increases the price of art books to $25. Which of these would occur?
(01.05 MC)
© 2013 FLVS
In anticipation of a hurricane, demand for tortillas goes up. Oyama’s store produces tortillas. Based on the chart, how will Oyama respond to the new demand for tortillas?
(05.05 MC)
Global Free Trade Zones
Public Domain
Opponents of free trade zones might use this map to argue that free trade
(03.06 MC)
© 2013 FLVS
Sayuri’s Asian Café makes the best pot stickers in town. The kitchen’s production is usually between 20 and 22 pot stickers per hour. Sayuri buys a new machine to help the team make pot stickers faster. She tracks production over the course of seven days. On which day does the machine make a positive impact on production?
(01.04 MC)
© 2013 FLVS
The bookstore is overstocked with old fantasy novels. It needs to get rid of the novels to make room for newly published fantasy novels. Based on the chart, what could the bookstore do to increase quantity demanded for fantasy novels?
(05.03 LC)
Which of the following statements most directly relates to the broad economic goal of freedom?
(05.02 HC)
Country A has an absolute command economy. Country B has a mixed economy and a population that favors market trade. Both want to increase trade to generate more wealth. Which action would Country B most likely take that Country A would not?
(03.04 MC)
Which of these businesses are in monopolistic competition?
(03.06 MC)
Auto Bull’s-Eye offers a 10-minute oil change and 30-minute brake check. There are two technicians who perform each of these services. Next week, the shop is offering a discounted oil change. How might this affect the production possibilities curve for next week?
(05.06 LC)
Which of the following is a potential benefit of inflation?
(05.04 MC)
© 2013 FLVS
Given the data in the chart above, which of the following trade scenarios is the most efficient?
(03.01 MC)
Entrepreneurs
Choose one of the entrepreneurs from this list. Write an essay about how your chosen entrepreneur has affected life today. Detail challenges he or she faced and explain how this person embodies one or more characteristics from the HUNT. Present your response in a clear, organized manner and cite examples as needed.
(03.03 MC)
Write a paragraph in response to the following statement: Business organization is a critical part of successful entrepreneurship.
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