ECON 1000 Study Guide - Midterm Guide: Association To Advance Collegiate Schools Of Business, Non-Renewable Resource, Pearson Education
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8 Nov 2019
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Question 1: Answer the following MC questions...
a). | Samuel F.B. Morse patented the (5 points) | ||||||||
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b). | Your friend wants to open a clothing shop. A necessary capital resource is a (5 points) | ||||||||
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c). | Jessica is a violinist who believes she can extend her method of learning music to early childhood education. She opens a preschool in her hometown, using her expertise to form an arts-based program. What factor of production is this? (5 points) | ||||||||
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d). | Your friend hopes to expand her business to multiple locations. It would be best for her to create a (5 points) | ||||||||
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e). | Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they want to expand. The owners like the idea of protecting their personal property, but they want to maintain control of the business. Which type of organization might best suit their growth? (5 points) | ||||||||
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f). | An oligopoly is a market for a good or service that (5 points) | ||||||||
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g). | The greatest goal in advertising is to convince us (5 points) | ||||||||
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h). | "Don't be like John, who had no health insurance when he needed emergency surgery. We make health insurance easy and affordable." This advertisement targets your (5 points) | ||||||||
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i). | Why do monopolies and oligarchies benefit producers over consumers? (5 points) | ||||||||
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