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5 Written Questions

5 Matching Questions

  1. Christy Haubegger
  2. competition
  3. market failure
  4. free contract
  5. demand
  1. a a situation in which the market does not distribute resources efficiently
  2. b the rivalry among sellers to attract customers while lowering costs
  3. c the concept that people may decide what agreements they want to enter into
  4. d founder of Latina Magazine in 1996
  5. e the desire to own something and the ability to pay for it.

5 Multiple Choice Questions

  1. Founder of BET- A media Company
  2. An income level below that which is needed to support families or households
  3. Government aid to the poor
  4. a government payment that supports a business or market
  5. dropped out of school, went back, met Colonel Sander, turned down ownership of KFC, opened 1st Wendy's in 1969, billionaire by age 30

5 True/False Questions

  1. technologyan economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume

          

  2. elasticdescribes demand that is not very sensitive to a change in price

          

  3. complementsthe rivalry among sellers to attract customers while lowering costs

          

  4. Howard Shultsdropped out of school, went back, met Colonel Sander, turned down ownership of KFC, opened 1st Wendy's in 1969, billionaire by age 30

          

  5. externalitythe process used to produce a good or service

          

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