The _______________ for products includes not only distribution channels but also the string of suppliers who deliver products to the producers.

John is considering a purchase of a new Toyota that costs $25,000 at a local dealership. John estimates the annual cost of maintenance, registration, insurance, and gas to be about $1,000. After extensive internet research, John estimates that he can sell his Toyota in three years for $10,000. What is John's estimated cost of owning and driving the car for three years? Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices A) $25,000 3 x $1,000 + $25,000 = $28,000
B) 3 x $1,000 + $25,000 - $10,000 = $18,000
C) $25,000 - $10,000 = $15,000

A factory currently manufactures and sells 800 boats per year. Each boat costs $5,000 to produce. $4,000 of the per-boat costs are for materials and other variable costs, while the per-boat fixed costs (incurred on yearly rent, administrative, and other fixed costs) are $1,000. If boat orders increase to 1000 boats per year, how do per-unit costs change?(A) Variable costs fall to $3,200 per boat and fixed costs fall to $800 per boat(B) Variable costs are unchanged at $4,000 per boat and fixed costs fall to $800 per boat(C) Variable costs are unchanged at $4,000 per boat and fixed costs are unchanged at $1,000 per boat(D) Variable costs rise to $5,000 per boat and fixed costs are unchanged at $1,000 per boat

For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to? adequate information economies of scale uncompetitive products sufficient technology 4. which of these industries has not been considered a natural monopoly in the past 30 years? diamonds water phone service electricity 5. what is an oligopoly? a market that has a few firms dominating the market a market that has many firms selling slightly different products a market that has one seller and many buyers a market that has many buyers and sellers 6. for the average total cost curve of a firm without economies of scale, what happens to costs as output increases? costs initially go up and then go down. costs initially go down and then go up. costs go down. costs go up. 7. what is the combination of two or more companies into a single firm called? a trust a merger predatory pricing deregulation 8. offering products of different tastes and shapes is an example of which of the following? nonprice competition perfect competition oligopolistic competition the law of demand 9. the controller of a monopoly sets the price of goods by charging _____. the price at which the profit is maximized only a small amount over cost less than the company would charge if it did not have a monopoly as much as possible, regardless of the amount sold 10. many critics argue that government efforts to regulate industries have caused which of the following? predatory pricing inefficiencies insufficient supply collusion 11. what is an agreement among firms to charge one price for the same good called? nonprice competition price fixing a price war monopolistic competition 12. which of the following is not a method that the government uses to intervene and prevent firms from controlling the price and supply of important goods? breaking up monopolies deregulating industries regulating business practices blocking mergers 13. what are the three practices of oligopolies that concern the government the most? price fixing, collusion, and cartels price leadership, collusion, and cartels differentiation, price leadership, and price fixing collusion, price leadership, and price fixing 14. what are the expenses a firm must pay before it can begin to produce and sell goods called? start-up costs perfect competition commodities imperfect competition 15. compared to a market with perfect competition, a monopoly often has _____. higher prices and more goods lower prices and more goods lower prices and fewer goods higher prices and fewer goods 16. which of the following could not prevent a market from becoming perfectly competitive? high start-up costs excessive information problems accessing necessary technology lack of technological know-how 17. which of the following is characteristic of a competitive market? low output high costs inexhaustible supply efficiency 18. economists usually call an industry an oligopoly if _____. only one product is available on the market the four largest firms produce at least 70–80 percent of the output there is one firm that produces 100 percent of the output the ten largest firms produce less than 50 percent of the output 19. for the average total cost curve of a firm with economies of scale, what happens to costs as output increases? costs initially go down and then go up. costs go up. costs go down. costs initially go up and then go down. 20. what is one of the effects that the internet has had on business? it has decreased the kinds of goods that are available to individual buyers. it has reduced start-up costs for many businesses. it has led to new monopolies in many industries. it has increased the prices of goods that are not bought on the internet.

Which of the following is true of student loans?a. They are usually high interest.
b. They are only available through the government.
c. They may be eligible for cancellation if certain criteria are met.
d. They are often used to pay tuition for private high schools.

Market speculation resulted in which of the following? a. Stocks became overvalued. c. People were afraid to withdraw money from the market. b. Stocks became undervalued. d. People mainly used cash to buy stock.

People might file for bankruptcy for all the following reasons except