Memory Cards

1. What does a low price tell suppliers?

a. Not enough of a product is being produced.

b. Too much of a product is being produced.

c. Equilibrium has been reached.

d. Demand for a product will go down.

2. Businesses often use information such as age, income level, and occupation to sell products to certain groups of people. Such statistical data are called

a. revenues.

b. complements.

c. markets.

d. demographics.

3. What is one reason the U.S. government regulates car manufacturing?

a. to keep out foreign-made cars

b. to keep U.S. car prices competitive

c. to offset the pollution caused by cars

d. to protect market competition

4. Owners of digital cameras have to buy memory cards in order to use the cameras. Cameras and memory cards are

a. substitutes.

b. complements.

c. unrelated.

d. elastic.