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Fbla Economics Test Questions And Answers With Verified Solutions 100% Correct!!!
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Fbla Economics Test Questions And Answers With Verified Solutions 100% Correct!!!
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Fbla Economics Test Questions AndAnswers With Verified Solutions 100%
Correct!!!
Careful evaluation of alternatives is the best way to get the most from your money.
(True or False) - ANSWER✔✔True
The price of a product when it is new on the market is usually the highest it will
ever be. (True or False) - ANSWER✔✔True
The Department of Defense was the first to use the Internet. (True or False) -
ANSWER✔✔True
Businesses do not need to supply consumers with accurate information. (True or
False) - ANSWER✔✔False
The Right to Redress makes certain that consumers have a variety of goods and
services from which to choose. (True or False) - ANSWER✔✔False
A cover letter should encourage the employer to read your resume and increase
your chances for obtaining an interview. (True or False) - ANSWER✔✔True
If you cannot resolve problems with your job performance, it is best to resign
before your employer fires you. (True or False) - ANSWER✔✔True
Most young people do not qualify to use the simplest of the tax forms - 1040EZ.
(True or False) - ANSWER✔✔False
,Employers pay twice as much social security and Medicare as their employee's
share. (True or False) - ANSWER✔✔False
It is financially more beneficial to save your money in a bank rather than let the
government withhold more taxes than you think you will owe for the year. (True or
False) - ANSWER✔✔True
If you want to cut your spending, you'll have to start with your fixed expenses.
(True or False) - ANSWER✔✔False
The goals you set affect your family, future family, and community. (True or
False) - ANSWER✔✔True
Banks usually send reports of your checking account activity each month
describing the activity on your account. (True or False) - ANSWER✔✔True
The difference in the interest charged by banks on loans and the interest paid on
money deposited is the bank's income. (True or False) - ANSWER✔✔True
If you invest carefully, you don't have to take risks. (True or False) -
ANSWER✔✔False
Only what you like to do determines the vacation destination you should consider.
(True or False) - ANSWER✔✔False
Dieting taken to a dangerous extreme is an eating disorder that could threaten your
life. (True or False) - ANSWER✔✔True
,The outpatient portion of a policy covers treatment after you have been admitted to
the hospital. (True or False) - ANSWER✔✔False
NAFTA requires that tariffs on most goods produced and sold in North America
will be gradually increased. (True or False) - ANSWER✔✔False
In practice, trade is completely free. (True or False) - ANSWER✔✔False
A need is something that you desire to have because someone else has one. (True
or False) - ANSWER✔✔False
One of the problems in economics is that wants are unlimited. (True or False) -
ANSWER✔✔True
There are only two kinds of economic resources: human and capital. (True or
False) - ANSWER✔✔False
Labor is another name for human resources. (True or False) - ANSWER✔✔True
Some resources, such as clean air and water, are limited. (True or False) -
ANSWER✔✔True
Scarcity is a problem that is faced by individuals and businesses but not by
governments. (True or False) - ANSWER✔✔False
Economic decision making is important to businesses and governments but not to
individuals. (True or False) - ANSWER✔✔False
, Economic decision making is a process requiring four important steps. (True or
False) - ANSWER✔✔False
An arrangement that allows buyers and sellers to come together to trade goods,
services, and resources is called a market. (True or False) - ANSWER✔✔True
Determining which of its citizens should benefit from the production of goods and
services is something each nation must decide. (True or False) -
ANSWER✔✔True
When the government hires new employees, it is participating in the marketplace.
(True or False) - ANSWER✔✔True
In a system of capitalism, the government decides what will be produced with the
resources available. (True or False) - ANSWER✔✔False
In the private enterprise system, you may start or invest in any business as long it is
not illegal to do so. (True or False) - ANSWER✔✔`True
The profit motive is designed to allow lazy owners to become rich. (True or False)
- ANSWER✔✔False
The three roles that everyone must perform are worker, consumer, and saver. (True
or False) - ANSWER✔✔False
Quantity demanded means the quantity of products and services that consumers are
willing and able to buy at a particular price. (True or False) - ANSWER✔✔True
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