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5 Written questions

5 Matching questions

  1. work ethic
  2. Robert L Johnson
  3. supply curve
  4. Christy Haubegger
  5. poverty threshold
  1. a Founder of BET- A media Company
  2. b A graph of the quantity supplied of a good at different prices
  3. c founder of Latina Magazine in 1996
  4. d An income level below that which is needed to support families or households
  5. e a commitment to the value of work and purposeful activity

5 Multiple choice questions

  1. someone who would not choose to pay for a certain good or service, but who would get the benefits of it anyway if it were provided as a public good
  2. Two goods that are bought and used together
  3. the process used to produce a good or service
  4. Starbucks expander
  5. goods used in place of one another

5 True/False questions

  1. fixed costfixed costs plus variable costs


  2. operating costthe cost of operating a facility, such as a store or factory


  3. total revenuefixed costs plus variable costs


  4. subsidythe amount of goods available


  5. inelasticDescribes demand that is very sensitive to a change in price