Reference no: EM13198518

1. A supply curve has:

a positive slope
a gentle slope
an inelastic slope
a negative slope

2. Which of the following represents the correct sequence for the general route goods take along the channels of distribution?
consumer, wholesaler, producer, retailer
producer, wholesaler, retailer, consumer
producer, retailer, wholesaler, consumer
producer, consumer, wholesaler, retailer

3. The usefulness or satisfaction that a consumer derives from purchasing and using a product is called:
pleasure
customer satisfaction
utility
contentment

4. Anti-trust laws are designed to prevent _______ and promote _______.
monopolies, competition
sole proprietorships, competition
competition, monopolies
monopolies, oligopolies

5. As goods move along the channels of distribution:
supply increases
price increases
demand decreases
costs of production increase

6. Businesses that sell goods directly to the public are called:
wholesalers
vendors
retailers
consumers

7. A business that purchases large quantities of goods for resale to other businesses is called:
a stockholder
a warehouse
a wholesaler
a supplier

8. Products used to make other goods are called:
reproductive goods
complementary goods
factors of production
capital goods

9. Black market activity is often the result of:
price ceilings
price floors
price windows
diminishing utility

10. Owners of common stock:
are not actually part-owners of the corporation
are allotted one vote per share owned at annual stockholder meetings
are guaranteed a certain dividend payment each year
are typically company employees who accept stock options as part of their benefits package