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POB Obj1.1

Sample questions for POB 1.01

QuestionAnswer
1. Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address? How to produce?
2. Which is an example of a company establishing supply? Walmart sends only five touch screen computers to each store.
3. An example of a value for a command economy is: a central leadership group expecting all the profit from production.
4. Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using? Natural
5. Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decision-making process has he performed? Acting on a choice
6. Which is an example of consumers establishing demand? The purchase of iPhone applications increasing daily
7. 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
8. Brandon’s Towing Company added flat tire replacement services. Which economic question does this address? What to produce?
9. An example of a value for a market economy is a: local company choosing to produce gaming software.
10. Bryers 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
11. Which is an example of consumers setting the demand? Consumers bought less of the old version of a video game once the new one was released.
12. John specializes in leasing commercial buildings to manufacturing companies. In which type of resource does he specialize? Capital
13. 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
14. Jane’s Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is included in the dishes? Natural
Created by: denise.stevens5