BE 141 MIDTERM QUESTIONS WITH
COMPLETE ANSWERS
The mmUnited mmStates' mmEconomic mmSystem mmis mmpure mmcapitalism mm- mmAnswer
mmFalse
The mmstatistic mmused mmto mmmeasure mmall mmof mmthe mmgoods mmand mmservices mma
mmcountry mmproduces mmis mmcalled mmGDP mm- mmAnswer mmTrue
China mmis mmthe mmworld mmleader mmin mmthe mmamount mmof mmgoods mmand mmservices
mmproduced mm- mmAnswer mmFALSE
All mmpeople mmhave mmneeds mmand mmwants. mmA mmneed mmis mmsomething mmyou
mmhave mmto mmhave mmin mmorder mmto mmsurvive mm- mmAnswer mmTrue
A mmwant mmmakes mmsurvival mmeasier mm- mmAnswer mmTrue
The mmgovernment mmof mmthe mmUnited mmStates mmcontrols mmmost mmof mmour
mmresources mm- mmAnswer mmFalse
The mmreason mma mmperson mmgoes mminto mmbusiness mmis mmto mmmake mma mmprofit.
mmAll mmbusinesses mmare mmguaranteed mmto mmeventually mmbe mmprofitable mmby mmour
mmgovernment mm- mmAnswer mmFalse
In mmCommunism, mmthe mmpeople mmown mmthe mmresources mmbut mmthey mmall mmwork
mmfor mmthe mmgovernment mm- mmAnswer mmFalse
An mmEconomic mmSystem mmis mmsimply mma mmway mma mmcountry mmcontrols mmits
mmresources mmin mmorder mmto mmmake mmgoods mmand mmservices mmto mmsatisfy
mmpeople's mmwants mmand mmneeds mm- mmAnswer mmTrue
Anyone mmin mma mmCapitalistic mmeconomic mmsystem mmcan mmstart mmtheir mmown
mmbusiness mmin mmorder mmto mmmake mmmoney mm- mmAnswer mmTrue
Quality mmof mmliving mmis mmthe mmquality mmand mmquantity mmof mmgoods mmand
mmservices mmavailable mmto mma mmpopulation mm- mmAnswer mmTrue
Entrepreneurs mmare mmindividuals mmwilling mmto mmtake mmthe mmrisk mmof mmowning
mmand mmoperating mma mmbusiness mm- mmAnswer mmTrue
, Greater mmlevels mmof mmcustomer mmsatisfaction mmoften mmtranslate mminto mmhigher
mmprofits mm- mmAnswer mmTrue
Following mmyour mmpassion mmin mmmaking mmcareer mmchoices mmcan mmlead mmto
mmfinancial mmand mmperusal mmsuccess mm- mmAnswer mmTrue
The mmDow mmJones mmAverage mmis mmover mm16,000 mm- mmAnswer mmTrue
The mmDow mmJones mmIndustrial mmAverage mmconsists mmof mmthe mmtop mm500
mmcompanies mmin mmthe mmUS mm- mmAnswer mmFalse
The mmNASDAQ mmis mmover mm5000 mmand mmconsists mmmainly mmof mmtechnology
mmstocks mm- mmAnswer mmTrue
A mmmutual mmfund mmhas mman mmNAV mmprice. mmNAV mmstands mmfor mmNet mmAsset
mmValue mm- mmAnswer mmTrue
If mmyou mminvested mm1000 mminto mma mmstock mmthat mmis mmnow mmworth mm1200,
mmyour mmpercent mmreturn mmwould mmbe mm20% mm- mmAnswer mmTrue
If mmyou mmwant mmto mmbe mmsuccessful mmwith mmyour mmmoney, mmyou mmneed mma
mmfinancial mmgoal! mm- mmAnswer mmTrue
Rule mmof mm72 mm- mmAnswer mmThe mmnumber mmof mmyears mmit mmtakes mmfor mma
mmcertain mmamount mmto mmdouble mmin mmvalue mmis mmequal mmto mm72 mmdivided mmby
mmits mmannual mmrate mmof mminterest
Basic mmneeds mminclude mmitems mmthat mmmake mmlife mmmore mmenjoyable, mmsuch
mmas mma mmtelevision. mm- mmAnswer mmFalse
The mmterm mm"wants" mmrefers mmto mmitems mmpeople mmdesire mmfor mmreasons
mmbeyond mmsurvival mmand mmbasic mmcomfort mm- mmAnswer mmTrue
A mmpersonal mmnet mmworth mmstatement mmlists mmyour mmincome mmand mmexpenses
mmfor mma mmperiod mmof mmtime mm- mmAnswer mmFalse
All mmassets, mmor mmitems mmof mmvalue, mmincrease mmin mmvalue mmover mmtime mm-
mmAnswer mmFalse
Financial mmchoices mmyou mmmake mmtoday mmwill mmaffect mmyour mmfinances mmand
mmyour mmwealth mmtomorrow mmand mmthroughout mmyour mmfuture mm- mmAnswer mmTrue
Consumers mmshould mmalways mmmake mmquick mmdecisions mmabout mmfinancial
mmmatters; mmotherwise, mmopportunities mmcan mmbe mmlost mm- mmAnswer mmFalse
COMPLETE ANSWERS
The mmUnited mmStates' mmEconomic mmSystem mmis mmpure mmcapitalism mm- mmAnswer
mmFalse
The mmstatistic mmused mmto mmmeasure mmall mmof mmthe mmgoods mmand mmservices mma
mmcountry mmproduces mmis mmcalled mmGDP mm- mmAnswer mmTrue
China mmis mmthe mmworld mmleader mmin mmthe mmamount mmof mmgoods mmand mmservices
mmproduced mm- mmAnswer mmFALSE
All mmpeople mmhave mmneeds mmand mmwants. mmA mmneed mmis mmsomething mmyou
mmhave mmto mmhave mmin mmorder mmto mmsurvive mm- mmAnswer mmTrue
A mmwant mmmakes mmsurvival mmeasier mm- mmAnswer mmTrue
The mmgovernment mmof mmthe mmUnited mmStates mmcontrols mmmost mmof mmour
mmresources mm- mmAnswer mmFalse
The mmreason mma mmperson mmgoes mminto mmbusiness mmis mmto mmmake mma mmprofit.
mmAll mmbusinesses mmare mmguaranteed mmto mmeventually mmbe mmprofitable mmby mmour
mmgovernment mm- mmAnswer mmFalse
In mmCommunism, mmthe mmpeople mmown mmthe mmresources mmbut mmthey mmall mmwork
mmfor mmthe mmgovernment mm- mmAnswer mmFalse
An mmEconomic mmSystem mmis mmsimply mma mmway mma mmcountry mmcontrols mmits
mmresources mmin mmorder mmto mmmake mmgoods mmand mmservices mmto mmsatisfy
mmpeople's mmwants mmand mmneeds mm- mmAnswer mmTrue
Anyone mmin mma mmCapitalistic mmeconomic mmsystem mmcan mmstart mmtheir mmown
mmbusiness mmin mmorder mmto mmmake mmmoney mm- mmAnswer mmTrue
Quality mmof mmliving mmis mmthe mmquality mmand mmquantity mmof mmgoods mmand
mmservices mmavailable mmto mma mmpopulation mm- mmAnswer mmTrue
Entrepreneurs mmare mmindividuals mmwilling mmto mmtake mmthe mmrisk mmof mmowning
mmand mmoperating mma mmbusiness mm- mmAnswer mmTrue
, Greater mmlevels mmof mmcustomer mmsatisfaction mmoften mmtranslate mminto mmhigher
mmprofits mm- mmAnswer mmTrue
Following mmyour mmpassion mmin mmmaking mmcareer mmchoices mmcan mmlead mmto
mmfinancial mmand mmperusal mmsuccess mm- mmAnswer mmTrue
The mmDow mmJones mmAverage mmis mmover mm16,000 mm- mmAnswer mmTrue
The mmDow mmJones mmIndustrial mmAverage mmconsists mmof mmthe mmtop mm500
mmcompanies mmin mmthe mmUS mm- mmAnswer mmFalse
The mmNASDAQ mmis mmover mm5000 mmand mmconsists mmmainly mmof mmtechnology
mmstocks mm- mmAnswer mmTrue
A mmmutual mmfund mmhas mman mmNAV mmprice. mmNAV mmstands mmfor mmNet mmAsset
mmValue mm- mmAnswer mmTrue
If mmyou mminvested mm1000 mminto mma mmstock mmthat mmis mmnow mmworth mm1200,
mmyour mmpercent mmreturn mmwould mmbe mm20% mm- mmAnswer mmTrue
If mmyou mmwant mmto mmbe mmsuccessful mmwith mmyour mmmoney, mmyou mmneed mma
mmfinancial mmgoal! mm- mmAnswer mmTrue
Rule mmof mm72 mm- mmAnswer mmThe mmnumber mmof mmyears mmit mmtakes mmfor mma
mmcertain mmamount mmto mmdouble mmin mmvalue mmis mmequal mmto mm72 mmdivided mmby
mmits mmannual mmrate mmof mminterest
Basic mmneeds mminclude mmitems mmthat mmmake mmlife mmmore mmenjoyable, mmsuch
mmas mma mmtelevision. mm- mmAnswer mmFalse
The mmterm mm"wants" mmrefers mmto mmitems mmpeople mmdesire mmfor mmreasons
mmbeyond mmsurvival mmand mmbasic mmcomfort mm- mmAnswer mmTrue
A mmpersonal mmnet mmworth mmstatement mmlists mmyour mmincome mmand mmexpenses
mmfor mma mmperiod mmof mmtime mm- mmAnswer mmFalse
All mmassets, mmor mmitems mmof mmvalue, mmincrease mmin mmvalue mmover mmtime mm-
mmAnswer mmFalse
Financial mmchoices mmyou mmmake mmtoday mmwill mmaffect mmyour mmfinances mmand
mmyour mmwealth mmtomorrow mmand mmthroughout mmyour mmfuture mm- mmAnswer mmTrue
Consumers mmshould mmalways mmmake mmquick mmdecisions mmabout mmfinancial
mmmatters; mmotherwise, mmopportunities mmcan mmbe mmlost mm- mmAnswer mmFalse
