Economics & Personal Finance Final Exam

Front

This economic system is based on customs and traditions (handed down from 1 generation to another)

Back

Traditional

Front

What economic system is described as consumers dictating what is produced, entrepreneurs responding to demand on how it will be produced, and those willing to work for it or can afford it determining whom it will be produced for?

Back

Market

Front

A central authority (government) has to answer the big three questions in this economic system

Back

Command

Front

This economic system is what the US is.

Back

Mixed

Front

An individual’s tendency to prefer avoiding losses to acquiring gains is what cognitive bias?

Back

Loss Aversion

Front

The tendency to interpret new evidence as confirmation of one's existing beliefs or theories.

Back

Confirmation Bias

Front

Soft skills can be best described as…

Back

Skills that allow a person to work effectively with others

Front

Which of the following activities is recommended to expand your professional network?
- Attending conferences related to your field
- Setting SMART goals
- Asking a past manager to be a mentor
- Exploring your interests

Back

Attending conferences related to your field

Front

Which of the following is TRUE about a cover letter? A cover letter highlights your strengths and interest in a position.

Back

A cover letter highlights your strengths and interest in a position.

Front

During an interview, if you've had a bad experience at a previous job, what should you do rather than speak negatively about that organization?

Back

Speak about what you learned in that role.