Edmentum Personal Finance Course EXAM
comprehensive questions and verified accurate
solution (detailed & elaborated) 2025 TEST!!
What is the economic term used for sustained increase in the price of goods and
services?
A. inflation
B. depression
C. recession
D. deflation - (ANSWER)A. inflation
What is Nick causing?
Nick has set up his steel factory near a community lake. The waste from his
factory is directly thrown in the lake and is causing the death of the fishes in the
lake. This is an example of a negative _______. - (ANSWER)externality
There are many food carts near Mark's university. Mark and his friends regularly
buy hot dogs from Jeff's cart. Recently, Andrea opened a business selling two-for-
one hamburgers near Jeff's cart. What will be the effect on Jeff's hot dog cart?
A. demand for his hot dogs will increase
B. supply of for his hot dogs will decrease
C. supply of his hot dogs will increase
D. demand for his hotdogs will decrease - (ANSWER)D.
demand for his hotdogs will decrease
,Elena wants to open a Chinese restaurant near a university. She has the required
capital to start her restaurant. However, she is unable to find good chefs for her
restaurant. Which type of resource is Elena lacking?
A. natural
B. human
C. capital
D. entrepreneurship - (ANSWER)B. human
What is brand awareness?
A. how much potential consumers like a particular brand over another
B. how willing a consumer is to purchase a specific brand
C. how well a brand is recognized by potential customers
D. how well a brand is doing in comparison to its competitors - (ANSWER)C. how
well a brand is recognized by potential customers
Which two of the following are benefits of consumer programs?
They help prosecute companies that sell unsafe products to consumers.
They are funded by taxpayers, not by consumers.
They help maintain industry standards by issuing professional licenses.
They help consumers identify the best product reviews from various sources. -
(ANSWER)They help prosecute companies that sell unsafe products to consumers.
, They help maintain industry standards by issuing professional licenses.
A fast food chain that wants to inform consumers about its latest dollar menu
item will most likely use _____ to do so.
_____ may inform consumers about other people's opinions on the newest dollar
menu item. - (ANSWER)A fast food chain that wants to inform consumers about
its latest dollar menu item will most likely use ---NEW TECHNOLOGY AND MEDIA--
- to do so.
---BLOGS--- may inform consumers about other people's opinions on the newest
dollar menu item.
Which organization collects consumer complaints, stops unfair practices, and sues
companies?
A. Better Business Bureau
B. Food and Drug Administration
C. Federal Trade Commission
D. Internal Revenue Service - (ANSWER)C. Federal Trade Commission
Ben is in charge of launching a new game for gaming platforms, and he wants to
use social media to spread the word. Ben decides to go to a gamers' _____
website and offers gamers a week to demo the game. He then uses _____ on
social media to get people involved in the _____ conversation. - (ANSWER)Ben is
in charge of launching a new game for gaming platforms, and he wants to use
comprehensive questions and verified accurate
solution (detailed & elaborated) 2025 TEST!!
What is the economic term used for sustained increase in the price of goods and
services?
A. inflation
B. depression
C. recession
D. deflation - (ANSWER)A. inflation
What is Nick causing?
Nick has set up his steel factory near a community lake. The waste from his
factory is directly thrown in the lake and is causing the death of the fishes in the
lake. This is an example of a negative _______. - (ANSWER)externality
There are many food carts near Mark's university. Mark and his friends regularly
buy hot dogs from Jeff's cart. Recently, Andrea opened a business selling two-for-
one hamburgers near Jeff's cart. What will be the effect on Jeff's hot dog cart?
A. demand for his hot dogs will increase
B. supply of for his hot dogs will decrease
C. supply of his hot dogs will increase
D. demand for his hotdogs will decrease - (ANSWER)D.
demand for his hotdogs will decrease
,Elena wants to open a Chinese restaurant near a university. She has the required
capital to start her restaurant. However, she is unable to find good chefs for her
restaurant. Which type of resource is Elena lacking?
A. natural
B. human
C. capital
D. entrepreneurship - (ANSWER)B. human
What is brand awareness?
A. how much potential consumers like a particular brand over another
B. how willing a consumer is to purchase a specific brand
C. how well a brand is recognized by potential customers
D. how well a brand is doing in comparison to its competitors - (ANSWER)C. how
well a brand is recognized by potential customers
Which two of the following are benefits of consumer programs?
They help prosecute companies that sell unsafe products to consumers.
They are funded by taxpayers, not by consumers.
They help maintain industry standards by issuing professional licenses.
They help consumers identify the best product reviews from various sources. -
(ANSWER)They help prosecute companies that sell unsafe products to consumers.
, They help maintain industry standards by issuing professional licenses.
A fast food chain that wants to inform consumers about its latest dollar menu
item will most likely use _____ to do so.
_____ may inform consumers about other people's opinions on the newest dollar
menu item. - (ANSWER)A fast food chain that wants to inform consumers about
its latest dollar menu item will most likely use ---NEW TECHNOLOGY AND MEDIA--
- to do so.
---BLOGS--- may inform consumers about other people's opinions on the newest
dollar menu item.
Which organization collects consumer complaints, stops unfair practices, and sues
companies?
A. Better Business Bureau
B. Food and Drug Administration
C. Federal Trade Commission
D. Internal Revenue Service - (ANSWER)C. Federal Trade Commission
Ben is in charge of launching a new game for gaming platforms, and he wants to
use social media to spread the word. Ben decides to go to a gamers' _____
website and offers gamers a week to demo the game. He then uses _____ on
social media to get people involved in the _____ conversation. - (ANSWER)Ben is
in charge of launching a new game for gaming platforms, and he wants to use
