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Corrections Test 1

QuestionAnswer
Briers ice cream company plans to increase the quantity of ice cream sold per quarter. This is an example of which self-regulating principle of a market economy? Producers establish supply.
Tina needs to find employment to earn an income. She applied for positions as a teacher, contractor, and coordinator. Which part of the economic decision-making process has she performed? Identifying choices.
Which is an examples of consumers establishing demand? The purchase of iPhone applications increasing daily.
Tony is trying to decide on which cars to sell at his dealership. He completed a spreadsheet to compare the options of cars. Which part of economic decision-making process has he performed? Evaluating the advantages and disadvantages of each choice.
Which is and example of consumers setting the demand? Consumers bought less of the old version of a video game once the new one was released.
Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result, over 100 teachers were released from their commitments. This information would be useful for which measurement of economic activities? Labor activities.
Department stores report monthly to the state commerce office it's total sales and goods and services. This information would be useful for which measurement of economic activities? Consumer spending.
In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities? GDP per capita.
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities? GDP.
Created by: 1618569