| General Knowledge | Supply and Demand | Markets | C is for Country | Another Random Category :D |
|---|---|---|---|---|
|
What are choices?
Economics is a study of consumer this.
A. Choices B. Availability C. Supply D. Demand |
What is true?
True/False
Low supply and high demand increase the price of an item |
What is capitalism?
A free enterprise market economy where businesses are free to determine what goods to produce and who to sell them to is called this.
A. Capitalism B. Socialism C. Mixed economy D. Economic indicators |
What is buy; impact?
What you choose to this has a this on the economies of other countries. (Two answers)
A. Do; fallout B. Make; influence C. Buy; impact D. Trade; affect |
What are renewable resources?
Wind, water, and solar energy are all examples of this.
A. Renewable resources B. Economic interdependence C. Nonrenewable resources D. Human capital |
|
What is capital?
This factor of production refers to the man-made objects like tools, machinery, buildings, and equipment needed for production?
A. Products B. Capital C. Tertiary D. Market |
What is availability; desire?
Supply and demand helps us understand how the this of a particular product and the this for it affect the price of the item. (Two answers)
A. Worth; supply B. Look; feel C. Demand; need D. Availability; desire |
What is a free market?
The United States is mostly a this.
A. Focused economy B. Free market C. Demand D. GDP |
What is an export; an import?
A product that's sold to the global market is called this while a product that's bought from another country is called this.
A. An export; a demand B. A resource; an export C. An export; an import D. A GDP; desire |
What is profit motive; business?
This is the desire to make a profit, and isn't greedy; it keeps business in this. (Two answers)
A. Profit motive; business B. Profit sharing; limbo C. Goal setting; debt D. Competition; stabilization |
|
What is an economic system?
Every country has a unique this that includes its leadership, the way it makes decisions, and how the country's citizens buy stuff.
A. Economic system B. Entrepreneurship C. Supply and demand D. Command economy |
What is trade?
The buying and selling of various goods and services is called this.
A. Marketplace B. Trade C. Scarcity D. Economic interdependence |
What is socialism?
This type of economy never really works for an economy because there's little innovation and no reward for starting a business, as well as an unmotivated labor force because workers are often assigned jobs.
A. Capitalism B. Socialism C. Market economy D. Monopoly |
What is specialization?
This is when a country focuses its efforts on producing a limited variety of goods or services.
A. Production quantity B. Supply and demand C. Specialization D. Tariffs |
What is false?
True/False
You can depend on the people in power to either make you wealthy or make you poor. |
|
What is command; government?
Socialism is an example of a this economy where the this is/are at the center.
A. Market; people B. Free; monopoly C. Specialized; market D. Command; government |
What is competition?
This doesn't exist in a command economy because there are fewer options for goods and services and they're controlled by the government.
A. Customers B. Retailers C. Competition D. Goods and services |
What is traditional?
This type of economy is built on primary industries such as fishing and farming, and it generally has very little waste and very little surplus.
A. Market B. Mixed D. Traditional D. Command |
What is economic interdependence?
This describes how many countries and companies around the world depend upon each other.
A. Mixed economies B. Economic dependence C. Economic interdependence D. Free market |
What is chain of production?
The series of steps it takes to produce a product is called the this.
A. Chain of production B. Economic sectors C. Factors of production D. Market Values |
|
What is contraction?
During the this phase of the business cycle, GDP growth falls, unemployment levels rise, income is in decline, and the stock market declines.
A. Peak B. Trough C. Contraction (or recession) D. Expansion |
What are economic indicators?
Inflation, deflation, the rate of economic growth, price levels, national income, changes in employment rates, and GDP are all called this.
A. Stock markets B. Global economy C. Developing countries D. Economic indicators |
What is a monopoly?
An extreme result of free-market capitalism without government regulation is referred to as this.
A. A monopoly B. Capitalism C. Socialism D. A mixed economy |
What is an embargo?
This is an official ban on trade with a country.
A. An embargo B. A quota C. Rationing D.Tariffs |
What is ration?
If the government fears there may be a shortage of something, they may choose to do this to it.
A. Capitalize on B. Quota C. Tariff D. Ration |
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