ECONOMICS AND PERSONAL FINANCE VERIFIED FINAL
EXAM FOR 2026 WITH QUESTIONS AND ANSWERS
GRADED A+ GUAANTEED PASS
In which type of business ownership are shares of stock sold to raise money?
Corporation
What is the main incentive for a manufacturer to sell a product?
Profit
What do Social Security taxes pay for?
Retirement Benefits
What does stay on budget mean?
Not surpassing the amount of money set aside for your spending period
In a ______, the owner has unlimited liability for any business debts.
Sole Proprietorship
A piano maker builds 20 pianos per month. Her total costs are $6,000 per month. What
is the average cost of each piano?
$300
, Why does the federal government collect income taxes throughout the year as people
earn wages?
So the government can pay bills as they come due
What is a characteristic of a traditional economy?
Based on hunting, fishing, and gathering
The United States is a mixed economy based on...
Based on the principles of the free market, but allowing some government interventions
In what kind of economy does the government make all the decisions?
A command economy
If prices rise and income stays the same, what happens to demand?
The demand goes down
What do businesses try to establish to avoid having a surplus or a shortage?
Equilibrium
Savers and borrowers are linked through financial institutions when...
Savers deposit money that is used to loan money to borrowers
What do Equifax, Experian, and TransUnion have in common?
They are the three major credit bureaus
EXAM FOR 2026 WITH QUESTIONS AND ANSWERS
GRADED A+ GUAANTEED PASS
In which type of business ownership are shares of stock sold to raise money?
Corporation
What is the main incentive for a manufacturer to sell a product?
Profit
What do Social Security taxes pay for?
Retirement Benefits
What does stay on budget mean?
Not surpassing the amount of money set aside for your spending period
In a ______, the owner has unlimited liability for any business debts.
Sole Proprietorship
A piano maker builds 20 pianos per month. Her total costs are $6,000 per month. What
is the average cost of each piano?
$300
, Why does the federal government collect income taxes throughout the year as people
earn wages?
So the government can pay bills as they come due
What is a characteristic of a traditional economy?
Based on hunting, fishing, and gathering
The United States is a mixed economy based on...
Based on the principles of the free market, but allowing some government interventions
In what kind of economy does the government make all the decisions?
A command economy
If prices rise and income stays the same, what happens to demand?
The demand goes down
What do businesses try to establish to avoid having a surplus or a shortage?
Equilibrium
Savers and borrowers are linked through financial institutions when...
Savers deposit money that is used to loan money to borrowers
What do Equifax, Experian, and TransUnion have in common?
They are the three major credit bureaus
