Mod 2: Week 8 - Consumer Purchasing and Insurance
Which type of agreement will ask you to agree to be a customer for a certain amount of months, usually while you are paying off equipment?
Cellphone agreement
This Christmas, there is a huge demand for the hottest toy. Every parent you know is trying to make sure this toy is under the tree for their little boy or girl. What would you expect this rise in demand for a popular toy to do to the price?
The price will rise.
If the market is oversaturated with a certain group of laborers (for example, construction workers), based on the law of supply and demand, what will potentially happen to the wages of these workers?
They could decrease.
What is true of needs according to Philippians 4:11-19? Choose the two that apply. Please do not guess, as incorrect answers are penalized for this question type.
We are to be content in every situation, even when we are in need of something. God supplies all of our needs.
According to Proverbs 11:15, whoever cosigns for a stranger will _______________.
be hurt
Leviticus 6:2 states, "If anyone sins and commits a breach of faith against the Lord by _________ his neighbor in a matter of deposit or security, or through robbery, or if he has oppressed his neighbor ... he shall restore it in full."
deceiving
Supply and demand is a basic principle of ________.
economics
An important aspect to consider regarding contracts is what __________ may present themselves during the life of your contract.
legal ramifications
What is one reason why it is important to read and understand all that is within a contract you sign?
Because God expects us to keep our promises
How does good advertising affect the demand for a product?
Demand will increase.
_________ is the study of how we as a society use limited resources. Those resources could be goods and services, or even labor.
Economics
Which of the following use online contracts? Choose the two that apply. Please do not guess, as incorrect answers are penalized for this question type.
Instagram Netflix
