economics - final exam questions with
correct answers
which is the most effective solution when planning for retirement? -
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CORRECT ANSWER✔✔-start as soon as possible to maximize savings.
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read the sentence.
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the marketing mix, also known as the four p's of marketing, consists of
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product, price, promotion, and _[blank]_.
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which best completes the sentence? - CORRECT ANSWER✔✔-place
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which type of expense can change based on use or volume? - CORRECT
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ANSWER✔✔-variable
read the scenario.
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joe works full time as a carpenter and brings home $3,000 per month.
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he owes a total of $1,500 in fixed expenses every month, which includes
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|items such as rent and insurance.
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, if joe had $1,000 in variable expenses such as groceries and
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entertainment, what would be his ending balance? - CORRECT | | | | | | | | |
ANSWER✔✔-$500
what was the original purpose of savings and loan associations? -
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CORRECT ANSWER✔✔-a way for groups of people to pool their money
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so that each member could build or buy a home
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what are some advantages of using a debit card as opposed to cash?
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select all that apply. - CORRECT ANSWER✔✔-debit cards can be
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replaced if they are lost. | | | |
debit cards can help track spending carefully and accurately.
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read the scenario.
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alan and samuel each have a 30-year mortgage. both mortgages were
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approved at the same time. alan pays 5 percent interest, while samuel
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only pays 3.5 percent.
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if alan and samuel are the same age and make the same amount of
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money, why is alan paying more in interest? - CORRECT ANSWER✔✔-
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samuel has a better credit score, so his interest rate is lower.
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correct answers
which is the most effective solution when planning for retirement? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-start as soon as possible to maximize savings.
| | | | | | | |
read the sentence.
| |
the marketing mix, also known as the four p's of marketing, consists of
| | | | | | | | | | | | |
product, price, promotion, and _[blank]_.
| | | |
which best completes the sentence? - CORRECT ANSWER✔✔-place
| | | | | | |
which type of expense can change based on use or volume? - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-variable
read the scenario.
| |
joe works full time as a carpenter and brings home $3,000 per month.
| | | | | | | | | | | | |
he owes a total of $1,500 in fixed expenses every month, which includes
| | | | | | | | | | | |
|items such as rent and insurance.
| | | | |
, if joe had $1,000 in variable expenses such as groceries and
| | | | | | | | | | |
entertainment, what would be his ending balance? - CORRECT | | | | | | | | |
ANSWER✔✔-$500
what was the original purpose of savings and loan associations? -
| | | | | | | | | | |
CORRECT ANSWER✔✔-a way for groups of people to pool their money
| | | | | | | | | | |
so that each member could build or buy a home
| | | | | | | | |
what are some advantages of using a debit card as opposed to cash?
| | | | | | | | | | | | |
select all that apply. - CORRECT ANSWER✔✔-debit cards can be
| | | | | | | | | |
replaced if they are lost. | | | |
debit cards can help track spending carefully and accurately.
| | | | | | | |
read the scenario.
| |
alan and samuel each have a 30-year mortgage. both mortgages were
| | | | | | | | | | |
approved at the same time. alan pays 5 percent interest, while samuel
| | | | | | | | | | | |
only pays 3.5 percent.
| | |
if alan and samuel are the same age and make the same amount of
| | | | | | | | | | | | | |
money, why is alan paying more in interest? - CORRECT ANSWER✔✔-
| | | | | | | | | |
samuel has a better credit score, so his interest rate is lower.
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