Business Studies Questions
- Your friend Amanda suffers from a condition that reduces her blood’s ability to carry oxygen. What is the name of this condition?
- Based on your budget of $2,500, which transportation option is the best financial decision for you? Please explain your answer in at least two sentences.
- What questions should someone consider when deciding whether to lease or buy a car? Check all that apply: Will I exceed the permitted lease mileage? Will my family be happy with the car? How long do I intend to keep the car? What is my budget for the car? How important are the car’s features to me?
- How would a manufacturer benefit from using fewer scarce resources? Would the product be less expensive to produce, better satisfy consumer needs, be more popular and readily available, or provide a more satisfactory profit?
- Why did Maggie not have flood insurance? Check all that apply. A. Storms in her region are highly unlikely. B. She wanted to pay for repairs with her own money. C. She felt she needed to save money. D. She may have misunderstood her basic homeowners policy. E. Her expenses were already high before paying for insurance.
- Which of the following best illustrates the decision-making process for producing a specific product? Should we use expensive machinery or rely on less expensive labor to produce jeans? Can we market our jeans to teenagers or focus on young adults in their twenties? Do we have adequate customer support to justify charging more for our jeans? Are jeans still in style, or should we consider developing a line of skirts instead?
- What are the most likely uses of capital invested in a business? Please check all that apply: paying taxes, hiring workers, repaying investors, producing goods, distributing goods, buying materials.
- How can a government regulate a natural monopoly? Check all that apply: a. It could buy out the company and operate it instead. b. It could limit how much the company charges customers. c. It could force the company to offer a different good or service. d. It could insist the company get approval before making certain decisions. e. It could set up new companies to introduce competition into the market. f. It could split the company into smaller firms that serve different customers.
- Can you create a simple outline for your paragraph by identifying the introductory and concluding points, and including a line for each subtopic?
- Select all the correct answers. Which statements are true according to the law of demand? 1. An increase in supply leads to an increase in demand. 2. A decrease in supply leads to a decrease in demand. 3. An increase in price leads to a decrease in quantity demanded. 4. A decrease in price leads to an increase in quantity demanded. 5. An increase in price leads to an increase in demand.
- Fill in each blank with the correct number from the table. Based on the data in the table, the opportunity cost for Country A to produce 16 units of petroleum is ___________ units of seafood. Additionally, the opportunity cost for Country B to produce 8 units of petroleum is ___________ units of seafood.