Unit Test — Unit test Answers
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Calvin and Trish started a cleaning company, but unfortunately their competitors offered lower prices, and the company failed. Calvin and Trish had borrowed $20,000 to start the business.What is one consequence they would face if they go through bankruptcy?
A
They will face legal charges.B
Their credit will be impacted for several years.C
They will be prohibited from getting a future business loan.D
They will have to pay back the full loan along with all interest.22
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What helps a consumer determine the quantity of something to buy?
A
marginal costB
marginal errorC
marginal benefitD
marginal comparison23
The graphic compares two basketball shoes.
A
the Hyper-Dunks because they will last for two seasonsB
the Air Slammers because they are the best priceC
the Hyper-Dunks because his favorite pro player wears themD
the Air Slammers because those are what his teammates chose24
Which statement best describes life insurance?
A
It pays for doctor visits and preventive medical care.B
It replaces lost income and covers medical expenses.C
It provides benefits to loved ones after someone’s death.D
It protects property against theft, accidents, or damages.25
Fido wants to buy a new car. He will need to get a car loan. Fido decides to wait for a few months until his credit history improves. Which explains whether Fido is making a sensible decision?
A
Fido’s decision is sensible because the selling price of the car should be less in a few months.B
Fido’s decision is sensible because the cost of the car loan should be less if his credit history improves.C
Fido’s decision is not sensible because he needs the car right away.D
Fido’s decision is not sensible because it does not matter if he buys the car now or in a few months.Did you find these answers helpful?
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