1
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Edmentum Personal Finance Course
Questions and Answers (100% Correct
Answers) Already Graded A+
What is the economic term used for sustained increase in the price
of goods and services?
A. inflation
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B. depression
C. recession
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D. deflation [ANS:] 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
_______. [ANS:] 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
, 2
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D. demand for his hotdogs will decrease [ANS:] 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
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B. human
C. capital
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D. entrepreneurship [ANS:] 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
[ANS:] 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.
, 3
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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. [ANS:] They help prosecute companies that sell
unsafe products to consumers.
© 2025 Assignment Expert
They help maintain industry standards by issuing professional
licenses.
A fast food chain that wants to inform consumers about its latest
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dollar menu item will most likely use _____ to do so.
_____ may inform consumers about other people's opinions on the
newest dollar menu item. [ANS:] 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
For Expert help and assignment solutions, +254707240657
Edmentum Personal Finance Course
Questions and Answers (100% Correct
Answers) Already Graded A+
What is the economic term used for sustained increase in the price
of goods and services?
A. inflation
© 2025 Assignment Expert
B. depression
C. recession
Guru01 - Stuvia
D. deflation [ANS:] 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
_______. [ANS:] 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
, 2
For Expert help and assignment solutions, +254707240657
D. demand for his hotdogs will decrease [ANS:] 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
© 2025 Assignment Expert
B. human
C. capital
Guru01 - Stuvia
D. entrepreneurship [ANS:] 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
[ANS:] 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.
, 3
For Expert help and assignment solutions, +254707240657
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. [ANS:] They help prosecute companies that sell
unsafe products to consumers.
© 2025 Assignment Expert
They help maintain industry standards by issuing professional
licenses.
A fast food chain that wants to inform consumers about its latest
Guru01 - Stuvia
dollar menu item will most likely use _____ to do so.
_____ may inform consumers about other people's opinions on the
newest dollar menu item. [ANS:] 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
