Demerit good Study guides, Revision notes & Summaries

VADETS final exam review 15 years & 6 months old - Correct answer-In order to obtain a learner's permit in Virginia, you must be at least ____. mandatory driver improvement class - Correct answer-The penalty for anyone less than 20 who is convicted of his/her first demerit violation is ____. 16 & 3 months - Correct answer-The minimum age to receive a driver's license in Virginia is ____. Juvenile and Domestic Relations Court - Correct answer-If you are less than 18, you will receive yo...

Ceteris paribus all other things are being held equal positive economics matters of economics that can be proven to be right or wrong by looking at the facts normative economics matters of economics that are based upon opinion and so are incapable of being proven to be right or wrong scarcity the limited availability of economic resources relative to societys unlimited demand for goods and services land the physical factor of production. It consists of natural re...

Free market economy in this system the forces of market demand and supply, without any government intervention, determine how resources are allocated, what to produce is decided upon by the profitability for a particular product, the consumer is said to be sovereign - their "economic votes" determine how resources are allocated Mixed economy in this system there is a mixture of a pure free-enterprise market economy and a command economy, there is a private sector and a public sector i...

ASQ Quality Management Glossary Exam 592 Questions with Verified Answers Academic Quality Improvement Project (AQIP) - CORRECT ANSWER A forum for higher education institutions to review one another's action projects. Acceptance quality limit (AQL) - CORRECT ANSWER In a continuing series of lots, a quality level that, for the purpose of sampling inspection, is the limit of a satisfactory process average. Acceptance number - CORRECT ANSWER The maximum number of defects or defectives allo...

9a. 16N.1.SL.TZ0.2a [10 marks] Explain why changes in the price of goods and services may lead to changes in resource allocation. 10a. 16M.1.SL.TZ1.1a [10 marks] Distinguish between the effect of an increase in income and an increase in the price of a good on the demand for the good. 11a. 16M.1.SL.TZ1.2a [10 marks] Explain one supply factor and one demand factor that might lead to a rise in the price of rented housing. 12a. 16M.1.SL.TZ2.2a [10 marks] Explain one...

WJEC AS Business Studies Unit 1 questions and answers Why do people start their own businesses? - To make a profit - To provide a good or service - To fill gap in the market - To turn a hobby into a career or business - To be independent/their own boss What is an entrepreneur? An entrepreneur is somebody who starts and runs a business. Perhaps they make a product or provide a service, the quite possibly may employ somebody to make a profit. Many Entrepreneurs are innovators, they b...

WJEC AS Business Studies Unit 1 questions and answers, A+ content Why do people start their own businesses? - To make a profit - To provide a good or service - To fill gap in the market - To turn a hobby into a career or business - To be independent/their own boss What is an entrepreneur? An entrepreneur is somebody who starts and runs a business. Perhaps they make a product or provide a service, the quite possibly may employ somebody to make a profit. Many Entrepreneurs are innova...

Who can file a request with the Bureau of Motor Vehicles to suspend the license or instruction permit of a minor? - Answer - Anyone who has signed the application of a minor for an operator's license or instruction permit The illegal transportation of liquor by a minor carries a minimum suspension of how many days? - Answer - 30 days How many classes of driver's license are issued in Maine? - Answer - 3 classes What are demerit points? - Answer - A system of assigning points to people...

ASQ Quality Glossary Exam 200 Questions with Verified Answers Academic Quality Improvement Project (AQIP) - CORRECT ANSWER A forum for higher education institutions to review one another's action projects. Acceptance quality limit (AQL) - CORRECT ANSWER In a continuing series of lots, a quality level that, for the purpose of sampling inspection, is the limit of a satisfactory process average. Acceptance number - CORRECT ANSWER The maximum number of defects or defectives allowable in a ...

Allocative efficiency - qualified answersIt occurs when it is impossible to improve overall economic welfare by reallocating resources between markets. In the whole economy, price must equal marginal cost in every market. Capital Good - qualified answersIt is a good which is used in the production of other goods or services. Choice - qualified answersIt is choosing between alternatives when making decisions on how to use scarce resources. Command Economy - qualified answersIt is an ec...