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Economics

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Natalia Roberts

Lvl 9
โˆ™ 2021-10-31 18:34:22
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Cards in this guide (30)
The existence of an international division of labor among countries enables those countries to have what

Specialized production

What provides a bank with collateral on a car loan

The car itself

What is one of the disadvantages of getting a government-sponsored mortgage

Government mortgages put a limit on the purchase price of a house. Government mortgages take a long time and a lot of paperwork to get approved.

What does a good credit history do for consumers

It makes it easier for them to get loans.

What does it take for a consumer boycott to be successful

The boycott must significantly reduce the target company's profits.

What makes a savings account a better investment than a checking account

A savings account earns interest.

What makes a credit card more convenient than a debit card

It can be used to buy things without immediate payment.

What are you paying for when you lease a car

The decrease in the car's value

Which of these most accurately describes the costs and benefits of using a credit card

Credit cards are convenient but can result in debt.

What protects customers who purchase defective products

A warranty.

What provides collateral to secure a car loan

car

Why do consumers have influence over politicians

Politicians rely on the votes of consumers to keep them in office.

Which of these is an example of luxury spending

Travel

When is liability insurance needed

When you cause an accident that damages another vehicle or hurts someone

A high level of what is most likely to lead to a higher wage

Education

Consumers can go to small-claims court when what happens

Other ways of resolving their complaint fail.

What would a socially responsible company use

Socially responsible companies use renewable resources.

According to the law of supply and demand when supply increases what else happens

According to the law of supply and demand when supply increases, prices will decrease.

What is most likely to push the price of a company's stock higher

An increase in demand for the company's stock

Companies use offshoring in order to do what

Reduce labor costs

When does Country A have a comparative advantage over Country B in the production of televisions

Country A has a lower opportunity cost for producing televisions.

The government sets a price floor in order to protect what

A vulnerable industry

Which of these helps you avoid debt by keeping your expenses below your income

A personal budget

In an economic system decisions need to be made about productive resources and which of the following

Allocation

Example of discretionary spending

There are a great many examples in the world of discretionary spending. Discretionary spending can be as simple as choosing whether you want to spend your money on ice cream.

What is a bank customers share of the profits made on loans

Savings account interest is the bank customer's share of the profits made on loans.

What is disclosed in APR

APR is annual percentage rate. That rate would be stated in the APR.

Why are private companies are unlikely to provide public goods

The non-excludability of public goods makes it difficult to profit from them.

Ask us of these describes the costs and benefits of getting a mortgage

Buy a House but Result in Large Interest Payments - Apex

What is the purpose of an initial public offering (IPO)

To raise money to fund a company's activities.

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