Abeka Economics Final Exam Questions With Correct Answers
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Course
Abeka Economics
Institution
Abeka Economics
Abeka Economics Final Exam Questions
With Correct Answers
Scarcity - answerBesides its utility, what else determines the value of a good by a consumer?
property rights - answerWhat is basic component of capitalism besides limited government,
freedom of enterprise, and competition?
equilibrium ...
transaction account - answer✔A checking account is what type of account?
CD - answer✔What type of account guarantees a certain interest rate and has a specified
maturity date?
measure of value - answer✔What function of money allows people to compare the worth of one
good with that of another good?
GDP - answer✔What is the value of all finished goods and services produced within a country
during a year's time?
oligopoly - answer✔What type of market model is dominated by only a few firms?
monopolistic competition - answer✔What type of market model provides differentiated
products?
perfect competition - answer✔What type of market model results in firms that are price takers?
monopoly - answer✔What type of market model results when there is only one supplier of a
good for which there is no substitute?
bonds - answer✔What is one of the safest ways to invest in a corporation?
NAFTA - answer✔What agreement among the United States, Canada, and Mexico encouraged
free trade encouraged?
WTO - answer✔What organization holds a policy of "most-favoured nation"?
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