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EssentialfFoundationsfoffEconomics,f9ef(Bade/Parkin)f
Chapterf2 ThefU.S.fandfGlobalfEconomies

2.1 What,fHow,fandfForfWhom?

1) Itemsfthatfarefpurchasedfbyfindividualsfforftheirfownfenjoymentfarefcalled
A) consumptionfgoodsfandfservices.
B) capitalfgoods.
C) governmentfgoodsfandfservices.
D) exportsfoffgoodsfandfservices.
E) privatefgoods.
fAnswer:f A

Topic:f ConsumptionfgoodsfandfservicesfSki
ll:f Levelf1:fDefinition
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking

2) Itemsfboughtfbyfindividualsftofprovidefpersonalfenjoymentfareftermed
A) consumptionfgoods.
B) personalfgoods.
C) consumptionforfinvestmentfgoods.
D) standardfgoods.
E) pleasurefgoods.
fAnswer:f A

Topic:f ConsumptionfgoodsfandfservicesfSk
ill:f Levelf1:fDefinition
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking

3) Whatfwouldfbefanfexamplefoffafconsumptionfgood?
A) Antonio,fthefmanagerfofftheflocalfTacofHut,fpurchasesfafnewfdeepffryer.
B) Theflocalfdriver'sflicensefofficefpurchasesfafnewfdigitalfcamerafandfprinter.
C) Rhiannafgetsfafhaircut.
D) JakefbuysfanfiPhone.
E) DonaldfTrumpfpurchasesffurniturefforfhisfoffice.f
Answer:f D
Topic:f f Whatfwefproduce
Skill:f Levelf2:fUsingfdefinitionsf
Section:f Checkpointf2.1
Status:f f Old
AACSB:f f Reflectivefthinking




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4) Whichfofftheffollowingfisfafconsumptionfgoodforfservice?
A) afpersonalfcomputerfpurchasedfinforderftofplayfgamesfatfhome
B) afUnitedfAirlinefticketfcounter
C) thefStarship,fSpaceX'sfproposedfhuman-carryingfrocket
D) afUnitedfParcelfServiceftruckfdeliveringfChristmasfgifts
E) afsatellitefdishfinstalledfbyfCoxfCableftofdownloadfprogramsfthatfarefthenfdistributedfthroughfitsfcablefsys
tem
Answer:f f A
Topic:f ConsumptionfgoodsfandfservicesfSki
ll:f Levelf2:fUsingfdefinitions
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking

5) Whatfwouldfbefanfexamplefoffafconsumptionfservice?
A) Rhiannafgetsfafhaircut.
B) JakefbuysfanfiPhone.
C) Antonio,fthefmanagerfofftheflocalfTacofHut,fpurchasesfafnewfdeepffryer.
D) Theflocalfdriver'sflicensefofficefpurchasesfafnewfdigitalfcamerafandfprinter.
E) DonaldfTrumpfpurchasesffurniturefforfhisfoffice.f
Answer:f A
Topic:f ConsumptionfgoodsfandfservicesfSki
ll:f Levelf2:fUsingfdefinitions
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking

6) TheflargestfsharefofftotalfproductionfinfthefUnitedfStatesfis
A) consumptionfgoodsfandfservices.
B) capitalfgoods.
C) governmentfgoodsfandfservices.
D) exportedfgoodsfandfservices.
E) importedfgoodsfandfservices.f
Answer:f A
Topic:f ConsumptionfgoodsfandfservicesfSki
ll:f Levelf1:fDefinition
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking




2
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,DOWNLOAD THE Test Bank for Essential Foundations of Economics 9th Editi
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7) Itemsfboughtfbyfbusinessesftofhelpfproducefotherfgoodsfandfservicesfarefcalled
A) consumptionfgoodsfandfservices.
B) capitalfgoods.
C) governmentfgoodsfandfservices.
D) exportsfoffgoodsfandfservices.
E) productivefgoods.
fAnswer:f B

Topic:f CapitalfgoodsfSkill
:f Levelf1:fDefinitionfSectio
n:f Checkpointf2.1fStatus:
f Old

AACSB:f f Reflectivefthinking

8) WhichfofftheffollowingfisfNOTfafconsumptionfgood?
A) Nikefswimmingftrunks
B) marriagefcounselingfservices
C) afUPSftruck
D) afSubwayfsandwich
E) afU.S.fgovernmentfbondf
Answer:f C
Topic:f f Capitalfgoods
Skill:f Levelf2:fUsingfdefinitionsf
Section:f Checkpointf2.1
Status:f f Old
AACSB:f f Applicationfoffknowledge

9) Anfitemfthatfisfpurchasedftofincreasefbusinesses'fproductivefresourcesfis
A) anfexport.
B) afgovernmentfgood.
C) afcapitalfgood.
D) afconsumptionfgood.
E) afproductivefgood.f
Answer:f C
Topic:f CapitalfgoodsfSkill
:f Levelf1:fDefinitionfSectio
n:f Checkpointf2.1fStatus:
f Old

AACSB:f f Reflectivefthinking

10) Whatfwouldfbefanfexamplefoffcapitalfgood?
A) Jeanettefbuysfafnewfdress.
B) Theflocalfdriver'sflicensefofficefpurchasesfafnewfdigitalfcamerafandfprinter.
C) Antonio,fthefmanagerfofftheflocalfTacofHut,fpurchasesfafnewfdeepffryer.
D) ApplefsellsfcomputersftofJapan.
E) Rhiannafgetsfafhaircut.f
Answer:f C
Topic:f f Capitalfgoods
Skill:f Levelf2:fUsingfdefinitionsf
Section:f Checkpointf2.1
Status:f f Old
AACSB:f f Reflectivefthinking
3
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, DOWNLOAD THE Test Bank for Essential Foundations of Economics 9th Editi
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11) Thefdifferencefbetweenfconsumptionfandfcapitalfgoodsfisfthat
A) onlyfbigfcorporationsfcanfaffordfcapitalfgoods.
B) capitalfgoodsfarefusedftofproducefadditionalfgoodsfwhilefconsumptionfgoodsfarefnot.
C) capitalfgoodsfarefprovidedfbyfthefgovernment.
D) consumptionfgoodsfcanfbefenjoyedfbyfmanyfpeoplefatfthefsameftime.
E) itfisfillegalftofexportfcapitalfgoods.f
Answer:f B
Topic:f ConsumptionfandfcapitalfgoodsfSkil
l:f Levelf1:fDefinition
Section:f Checkpointf2.1fSt
atus:f Old
AACSB:f f Reflectivefthinking

12) WhichfofftheffollowingfisfNOTfanfexamplefoffafcapitalfgood?
A) afminer'sfcap
B) afGPSftrackingfdevice
C) anfairportfkiosk
D) afU.S.fgovernmentfbond
E) afstethoscopef
Answer:f D
Topic:f f Capitalfgoods
Skill:f Levelf2:fUsingfdefinitionsf
Section:f Checkpointf2.1
Status:f f Old
AACSB:f f Applicationfoffknowledge

13) WhichfofftheffollowingfisfNOTfconsideredfonefofftheffactorsfoffproduction?
A) land
B) labor
C) capital
D) technology
E) entrepreneurshipf
Answer:f D
Topic:f FactorsfoffproductionfS
kill:f Levelf1:fDefinitionfSectio
n:f Checkpointf2.1fStatus:f Old
AACSB:f f Reflectivefthinking




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Copyrightf©f2021fPearsonfEducation,fInc.
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