[ URGENT ] Please Help!
Q1- Can consumerism in America change quickly? (1 point)

A.) No, consumerism cannot change quickly. It takes many years and small
incremental changes to alter the way a society views consumerism.

B.) No, consumerism in America cannot change since American is a primarily
capitalist society. It would take a dramatic political shift, such as to communism, to
change American consumerism.

C.) Yes, American consumerism is changing constantly. From year to year,
consumers want wildly different things, and it is up to businesses to keep up with
the changing trends.

D.) Yes, for example natural disasters can quickly change American consumerism,
drastically altering the way businesses and people spent money.

Q2- The average American consumer has all of his or her essential needs (food, shelter, etc.) fulfilled.
Does this affect American consumerism? Explain. (1 point)

A.) It does affect American consumerism because it is the wants, instead of the
needs, that drives consumerism in America. This allows a large number of
businesses to focus on non-essential products to fulfill those wants.

B.) It does not affect American consumerism. In general, businesses act and are
developed the same way whether they are based in America or in a country
where most of the population's essential needs are not met.

C.) It does affect American consumerism because most essential needs become
devalued and not profitable. This has caused the American government to be
forced to step in and supply most of those needs because businesses are
focused on non-essential products, which are more profitable.

D.) It does affect American consumerism because with essential needs satisfied,
consumerism has mostly disappeared with businesses no longer focusing on the
interest of consumers.

Q3- In the United States, the housing market saw a sharp drop off in new home sales from a high of
1,283,000 in 2005 to a low of 306,000 in 2011. How might have this affected employment for
lumber distributors assuming there were no other clients added? (1 point)

A.) The overall supply of lumber most likely decreased leading to lumber distributors
to let go of employees.

B.) The overall demand of lumber most likely increased leading to lumber distributors
to hire more employees.

C.) The overall demand for lumber most likely decreased leading to lumber
distributors to let go of employees.

D.) There would be no change in supply, so there would be no change in the number
of employees.

Q4- What normally happens if there is an excessive production of goods? (1 point)

A.) price goes down and demand goes up

B.) price goes down and demand goes down

C.) price goes up and demand goes down

D.) price goes up and demand goes up

Q5- Banks are advertising that the interest rates for mortgages are at an all time low. What does this
mean in terms of the money supply? (1 point)

A.) It means the money supply is increasing rapidly.

B.) It means the money supply is decreasing rapidly.

C.) It means the money supply is weak.

D.) It means the money supply is strong.

A. No, consumerism cannot change quickly. It takes many years and small incremental changes to alter the way a society views consumerism. (This is the most accurate answer)

While trends can shift rapidly, core societal values like consumerism tend to evolve gradually through cultural and economic changes.

Q2: The average American consumer has all of his or her essential needs (food, shelter, etc.) fulfilled. Does this affect American consumerism? Explain. (1 point)

A. It does affect American consumerism because it is the wants, instead of the needs, that drives consumerism in America. This allows a large number of businesses to focus on non-essential products to fulfill those wants. (This is the correct answer)

With basic needs met, American consumerism is driven by desires and status seeking, leading to a focus on non-essential goods and services.

Q3: In the United States, the housing market saw a sharp drop off in new home sales from a high of 1,283,000 in 2005 to a low of 306,000 in 2011. How might have this affected employment for lumber distributors assuming there were no other clients added? (1 point)

C. The overall demand for lumber most likely decreased leading to lumber distributors to let go of employees. (This is the best answer)

Fewer new homes being built means less demand for lumber, leading to potential layoffs at lumber distributors.

Q4: What normally happens if there is an excessive production of goods? (1 point)

B. Price goes down and demand goes down (This is the most likely scenario)

In an oversupplied market, businesses typically lower prices to stay competitive. This might not always lead to increased demand, and could even lead to a decrease if the lower price signifies lower quality.

Q5: Banks are advertising that the interest rates for mortgages are at an all-time low. What does this mean in terms of the money supply? (1 point)

D. It means the money supply is strong. (This is the most likely answer)

Lower interest rates generally encourage borrowing, which increases the money supply in circulation. This can stimulate economic activity.