Practice Test for Mr. Campbell's Economics class.
A few firms and low barriers to entry
Large number of firms and many barriers
Large number of firms and low barriers
Few firms and many barriers
People will buy much less of the product as the price rises
People will not buy any of the product when price goes up
There are very few substitute products for the good.
A price increase does not have a significant impact on purchasing habits.
The cost of the items goes down.
The profit of the item goes down.
Businesses will produce less goods.
There is no relationship between the two.
Rationing
Price ceiling
Price floor
Surplus
Stockholders rarely trade their stock
A large number of stock holders can buy and sell stock
Stocks are not usually traded at stock exchange
Family members are excluded from holding stock
None
Very little
Some
Total control
Players salaries
Ticket sellers salaries
Field maintenance
Stadium rent
High taxes
Difficult to start up
Legal fees
Lack of permanence
Technology
Start up cost
Licenses
All of the above
None of the above