FBLA EXAM PAPER 2025 GRADED A+ (QUESTIONS WITH 100% CORRECT

FBLA EXAM PAPER 2025 GRADED A+ (QUESTIONS WITH
100% CORRECT
Careful evaluation of alternatives is the best way to get the most from your money. (True or False) -
True



The price of a product when it is new on the market is usually the highest it will ever be. (True or
False) - True



The Department of Defense was the first to use the Internet. (True or False) - True



Businesses do not need to supply consumers with accurate information. (True or False) - False



The Right to Redress makes certain that consumers have a variety of goods and services from which
to choose. (True or False) - False



A cover letter should encourage the employer to read your resume and increase your chances for
obtaining an interview. (True or False) - True



If you cannot resolve problems with your job performance, it is best to resign before your employer
fires you. (True or False) - True



Most young people do not qualify to use the simplest of the tax forms - 1040EZ. (True or False) -
False



Employers pay twice as much social security and Medicare as their employee's share. (True or False) -
False



It is financially more beneficial to save your money in a bank rather than let the government
withhold more taxes than you think you will owe for the year. (True or False) - True



If you want to cut your spending, you'll have to start with your fixed expenses. (True or False) - False



The goals you set affect your family, future family, and community. (True or False) - True

,Banks usually send reports of your checking account activity each month describing the activity on
your account. (True or False) - True



The difference in the interest charged by banks on loans and the interest paid on money deposited is
the bank's income. (True or False) - True



If you invest carefully, you don't have to take risks. (True or False) - False



Only what you like to do determines the vacation destination you should consider. (True or False) -
False



Dieting taken to a dangerous extreme is an eating disorder that could threaten your life. (True or
False) - True



The outpatient portion of a policy covers treatment after you have been admitted to the hospital.
(True or False) - False



NAFTA requires that tariffs on most goods produced and sold in North America will be gradually
increased. (True or False) - False



In practice, trade is completely free. (True or False) - False



A need is something that you desire to have because someone else has one. (True or False) - False



One of the problems in economics is that wants are unlimited. (True or False) - True



There are only two kinds of economic resources: human and capital. (True or False) - False



Labor is another name for human resources. (True or False) - True



Some resources, such as clean air and water, are limited. (True or False) - True

,Scarcity is a problem that is faced by individuals and businesses but not by governments. (True or
False) - False



Economic decision making is important to businesses and governments but not to individuals. (True
or False) - False



Economic decision making is a process requiring four important steps. (True or False) - False



An arrangement that allows buyers and sellers to come together to trade goods, services, and
resources is called a market. (True or False) - True



Determining which of its citizens should benefit from the production of goods and services is
something each nation must decide. (True or False) - True



When the government hires new employees, it is participating in the marketplace. (True or False) -
True



In a system of capitalism, the government decides what will be produced with the resources
available. (True or False) - False



In the private enterprise system, you may start or invest in any business as long it is not illegal to do
so. (True or False) - `True



The profit motive is designed to allow lazy owners to become rich. (True or False) - False



The three roles that everyone must perform are worker, consumer, and saver. (True or False) - False



Quantity demanded means the quantity of products and services that consumers are willing and able
to buy at a particular price. (True or False) - True



Quantity supplied means the quantity of a product or service that businesses are willing and able to
provide at a particular price. (True or False) - True



Success in your role as a worker will affect your standard of living. (True or False) - True

, When you pay your taxes, you are performing your citizen role. (True or False) - True



Economic growth refers to a steady increase in the production of goods and services in an economic
system. (True or False) - True



There are over 120 million workers in the U.S. economy. (True or False) - True



The GDP in our economy has declined steadily for the past few years. (True or False) - False



Changes in the business cycle form a pattern of good times to bad times and back. (True or False) -
True



Recovery in the business cycle occurs after a period of inflation. (True or False) - False



The production process of getting goods to consumers usually requires only one business. (True or
False) - False



A supermarket, a bank, and a utility company are all examples of businesses. (True or False) - True



Marketing involves just transporting and selling products. (True or False) - False



Marketing activities add value to a product. (True or False) - True



Building a specific, unique product for one customer is called processing. (True or False) - False



Mass production is not the standard of U.S. manufacturing. (True or False) - False



Service businesses are the fastest growing part of our economy. (True or False) - True



All businesses must raise capital, use human resources, and keep records. (True or False) - True