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10. If financial institutions and businesses suddenly and severely
restrict the availability of consumer credit, which one of the above
flows would be most likely to be the first to be impacted adversely?
11. Which of the following are considered economic resources?
12. In a free-market economy, which of the following should be the
least significant factor in determining resource allocation and use?
13. Which of the following is not a characteristic of a free-market
economy?
14. The demand for a commodity would increase when the price of a
15. When a demand schedule is plotted on a graph, the resulting
demand curve will be
16. In the statement "quantity demanded is a function of price," are
the variables quantity and price dependent or independent variables?
17. The demand curve for a product reflects which of the following?
18. If there is an increase in the income of market participants, which
of the following is most likely to happen to the demand for normal
goods?
19. Which one of the following would not cause an increase in
demand for a commodity?
20. Concurrent with a significant downturn in the economy, the sale
of Scope's high-end electronics decreased dramatically. Which of the
following is the most likely direct cause of the decline in demand for
Scope's products?
21. Which one of the following factors would not cause an increase in
the supply curve of a commodity?