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1.   Which of the following functions involves activities designed to provide goods and services  that fulfill needs and desires of consumers?    Student  Response Value Correct  Answer Feedback A.  Accounting      B.  Engineering      C.  Finance      D.  Production      E. Marketing  100%       Score: 5/5    2.   Free-market capitalism and laissez-faire capitalism are essentially the same thing.    Student Response Value Correct  Answer Feedback A.  TRUE      B. FALSE<br/><br/> 0%       Score: 0/5    3.
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  All of the following are true in a communist society except    Student  Response Value Correct  Answer Feedback A.  the means of  production are  owned by the  government.      B.  the  government  chooses what  will be  produced.      C.  the  government  decides who  will produce  the goods.      D.  supply is  determined by  central  government  planning.      E. consumers  have a wide  choice of  goods and  services.  100%       Score: 5/5    4.
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  Economic expansion occurs when    Student  Response Value Correct  Answer Feedback A.  fewer goods  and services  are produced  than  consumers  demand.      B.  an economy is  growing and  people are  spending  more money.      C.  a nation's  standard of  living drops  quickly.      D.  employment  levels decline  over time.      E. prices begin to  rise and  incomes begin  to fall.  0%       Score: 0/5    5.   The standard of living rises because people have less money to spend.    Student Response Value Correct  Answer Feedback A.  TRUE      B. FALSE<br/><br/> 100%       Score: 5/5   
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6.   Nonprofit organizations such as Habitat for Humanity do not engage in management,  marketing, or finance activities.    Student Response Value Correct  Answer Feedback A. TRUE 0%       B.  FALSE<br/><br/>      Score: 0/5    7.   Socialism    Student  Response Value Correct  Answer Feedback A.  allows only  private  ownership of  business.      B.  allows only  government  ownership of  the factors of  production.      C.  has  government  ownership of  basic  industries.      D. is becoming  more popular. 0%       E.  all of the  above.       Score: 0/5    8.
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  When a nation spends more than it takes in from taxes it has a(n)    Student  Response Value Correct  Answer Feedback A.  stagnant  income.      B. budget deficit. 100%       C.  economic  expansion.      D.  balance of  trade.   
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This note was uploaded on 11/04/2010 for the course COB BUS taught by Professor John during the Spring '07 term at California Coast University.

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