11. A supply curve has: a positive slope a gentle slope an inelastic slope a neg

Question

11. A supply curve has:
a positive slope
a gentle slope
an inelastic slope
a negative slope

12. 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

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

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

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

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

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

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


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

20. 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 packag

Explanation / Answer

11. a positive slope 12. producer, wholesaler, retailer, consumer 13. utility 14. monopolies, competitions 15. costs of production increase 16. retailers 17. wholesaler 18. factors of production 19. price ceilings 20. are allotted one vote per share owned at annual stockholder meetings.

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