,Essential Foundations of Economics, 9e (Bade/Parkin)
Chapter 2 The U.S. and Global Economies
2.1 What, How, and For Whom?
1) Items that are purchased by individuals for their own enjoyment are called
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exports of goods and services.
E) private goods.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
2) Items bought by individuals to provide personal enjoyment are termed
A) consumption goods.
B) personal goods.
C) consumption or investment goods.
D) standard goods.
E) pleasure goods.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
3) What would be an example of a consumption good?
A) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
B) The local driver's license office purchases a new digital camera and printer.
C) Rhianna gets a haircut.
D) Jake buys an iPhone.
E) Donald Trump purchases furniture for his office.
Answer: D
Topic: What we produce
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
,4) Which of the following is a consumption good or service?
A) a personal computer purchased in order to play games at home
B) a United Airline ticket counter
C) the Starship, SpaceX's proposed human-carrying rocket
D) a United Parcel Service truck delivering Christmas gifts
E) a satellite dish installed by Cox Cable to download programs that are then distributed through its cable
system
Answer: A
Topic: Consumption goods and services
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
5) What would be an example of a consumption service?
A) Rhianna gets a haircut.
B) Jake buys an iPhone.
C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
D) The local driver's license office purchases a new digital camera and printer.
E) Donald Trump purchases furniture for his office.
Answer: A
Topic: Consumption goods and services
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
6) The largest share of total production in the United States is
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exported goods and services.
E) imported goods and services.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
, 7) Items bought by businesses to help produce other goods and services are called
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exports of goods and services.
E) productive goods.
Answer: B
Topic: Capital goods
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
8) Which of the following is NOT a consumption good?
A) Nike swimming trunks
B) marriage counseling services
C) a UPS truck
D) a Subway sandwich
E) a U.S. government bond
Answer: C
Topic: Capital goods
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Application of knowledge
9) An item that is purchased to increase businesses' productive resources is
A) an export.
B) a government good.
C) a capital good.
D) a consumption good.
E) a productive good.
Answer: C
Topic: Capital goods
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
10) What would be an example of capital good?
A) Jeanette buys a new dress.
B) The local driver's license office purchases a new digital camera and printer.
C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
D) Apple sells computers to Japan.
E) Rhianna gets a haircut.
Answer: C
Topic: Capital goods
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
Chapter 2 The U.S. and Global Economies
2.1 What, How, and For Whom?
1) Items that are purchased by individuals for their own enjoyment are called
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exports of goods and services.
E) private goods.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
2) Items bought by individuals to provide personal enjoyment are termed
A) consumption goods.
B) personal goods.
C) consumption or investment goods.
D) standard goods.
E) pleasure goods.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
3) What would be an example of a consumption good?
A) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
B) The local driver's license office purchases a new digital camera and printer.
C) Rhianna gets a haircut.
D) Jake buys an iPhone.
E) Donald Trump purchases furniture for his office.
Answer: D
Topic: What we produce
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
,4) Which of the following is a consumption good or service?
A) a personal computer purchased in order to play games at home
B) a United Airline ticket counter
C) the Starship, SpaceX's proposed human-carrying rocket
D) a United Parcel Service truck delivering Christmas gifts
E) a satellite dish installed by Cox Cable to download programs that are then distributed through its cable
system
Answer: A
Topic: Consumption goods and services
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
5) What would be an example of a consumption service?
A) Rhianna gets a haircut.
B) Jake buys an iPhone.
C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
D) The local driver's license office purchases a new digital camera and printer.
E) Donald Trump purchases furniture for his office.
Answer: A
Topic: Consumption goods and services
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
6) The largest share of total production in the United States is
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exported goods and services.
E) imported goods and services.
Answer: A
Topic: Consumption goods and services
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
, 7) Items bought by businesses to help produce other goods and services are called
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) exports of goods and services.
E) productive goods.
Answer: B
Topic: Capital goods
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
8) Which of the following is NOT a consumption good?
A) Nike swimming trunks
B) marriage counseling services
C) a UPS truck
D) a Subway sandwich
E) a U.S. government bond
Answer: C
Topic: Capital goods
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Application of knowledge
9) An item that is purchased to increase businesses' productive resources is
A) an export.
B) a government good.
C) a capital good.
D) a consumption good.
E) a productive good.
Answer: C
Topic: Capital goods
Skill: Level 1: Definition
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
10) What would be an example of capital good?
A) Jeanette buys a new dress.
B) The local driver's license office purchases a new digital camera and printer.
C) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
D) Apple sells computers to Japan.
E) Rhianna gets a haircut.
Answer: C
Topic: Capital goods
Skill: Level 2: Using definitions
Section: Checkpoint 2.1
Status: Old
AACSB: Reflective thinking
