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Personal Finance- Quiz (#3) Prep ActivityComplete the following tasks in order to fully prepare for your quiz tomorrow. Create a DETAILED outline for each task using all necessary key vocabulary from the readings. (2.2, 2.3, 4.2)You own an avocado farm. Discuss three ways your business would be different in a Free Market economy versus a Planned economy. Identify and discuss 2 reasons why the American Government might regulate an Auto company. Be specificIdentify 3 companies, who sell 3 different products and the companies they share PRICE COMPETITION with. Identify 3 companies, who sell 3 different products and the companies they share Non-PRICE COMPETITION with. A famous athlete promotes a certain brand of clothing, and this increases the demand for that brand of clothing. Identify two things would you expect to happen next and explain your answers. Identify and discuss 2 ways in which the law of Elasticity might influence your decisions on pricing if you were in charge of pricing canned soup products (i.e. Campbells) at safeway.If you have a checking account and you want to buy something at a grocery store, discuss 4 ways you might be able to pay for a product and rank them in order of convenience (1 most convenient, 4 least convenient). Discuss at least 4 parts of the journey that your money takes from the moment you decide to pay for something using a check until it shows up on your bank statement. 1 descriptive sentence for each step is needed. Personal Finance Quiz #3Directions: Complete the following tasks using COMPLETE SENTENCES thoroughly supporting your ideas with specific and relevant details. You own an avocado farm. Discuss three ways your business would be different in a Free Market economy versus a Planned economy. Identify 3 companies, who sell 3 different products and the companies they share PRICE COMPETITION with. Identify and discuss 2 ways in which the law of Elasticity might influence your decisions on pricing if you were in charge of pricing canned soup products (i.e. Campbells) at safeway.If you have a checking account and you want to buy something at a grocery store, discuss 4 ways you might be able to pay for a product and rank them in order of convenience (1 most convenient, 4 least convenient). A famous athlete promotes a certain brand of clothing, and this increases the demand for that brand of clothing. Identify two things would you expect to happen next and explain your answers. Identify 3 companies, who sell 3 different products and the companies they share Non-PRICE COMPETITION with. ................
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