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Quiz 14
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Q.1
What is a need?
Nothing
Something you have to have to live
Something you would like to have
Ice cream
Q.2
What is consumption?
How a good is moved
How a good is created
How a good is used
How a good is destroyed
Q.3
Another word for money
barter
economics
currency
price
Q.4
What is a want?
A person
Something you would like to have but don't need to live
Purple
Something you need to live
Q.5
What is a free market economy?
An economy based on supply and demand with little or no government control
The international exchange of goods
An economy in which decisions are made by the government
An economy that is communist
Q.6
Which of the following is not a service?
Dry Cleaner
Car Wash
Clothes
Babysitter
Q.7
Income set aside for unexpected expenses
savings
goods
services
producer
Q.8
A person who buys goods and services
consumer
entrepreneur
resource
currency
Q.9
Economic System where there is limited technology and ideas are passed down from generation to generation
Command
Traditional
Mixed
Market
Q.10
The majority of the least developed countries can be found on which continent?
Africa
Asia
Europe
South America
Q.11
Basic things humans need to survive
need
want
import
demand
Q.12
A general increase in prices
price
inflation
scarcity
demand
Q.13
What type of economy does the United States have?
traditional
mixed
command
market
Q.14
Tools we use to make products
capital resources
human resources
natural resources
entrepreneurs
Q.15
Type of Economy where Supply and demand determine prices with little gov intervention
Command
Market
Mixed
Traditional
Q.16
Which of these jobs is involved in production?
Secretary
Factory worker
Truck driver
Zoo keeper
Q.17
When something given up for something else is called?
Choice
Capitalism
Inflation
Opportunity Cost
Q.18
What term refers to a good that leaves a country?
Export
Import
Trade
Distribution
Q.19
Services provided by people
human resource
import
scarcity
consumer
Q.20
The amount available
supply
demand
import
natural resource
Q.21
How much of a good or service consumers want
demand
spending
producer
scarcity
Q.22
A person who purchases a good or service
consumer
taxes
supply
good
Q.23
A person who provides a good or service
producer
need
want
consumer
Q.24
Things purchased by consumers
goods
consumer
producer
supply
Q.25
How much of something is available
supply
demand
Q.26
The amount of money we pay for a good or service
currency
price
inflation
economics
Q.27
Something we use from nature
natural resource
human resource
capital resource
entrepreneur
Q.28
The place where goods and services are exchanged
barter
currency
market
resource
Q.29
Something we pay for that we can touch
goods
services
Q.30
The using up of a resource
scarcity
supply
services
consumption
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