Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Economic Basics
Test Description: General Vocabulary relating to economics
Instructions: Answer all questions to get your test result.
1) When countries depend on other countries
A
scarcity
B
interdependence
C
economics
D
specialization
2) How are prices determined?
A
the amount of natural resources available
B
the amount a consumer is willing to spend
C
the intersection of supply/demand curves
D
the amount a supplier is willing to supply
3) to bring in or buy from other countries
A
scarcity
B
export
C
import
D
specialization
4) the value of your second best choice
A
interdependence
B
scarcity
C
opportunity cost
D
specialization
5) a country should concentrate on doing what it does best
A
comparative advantage
B
scarcity
C
natural resources
D
productive resources
6) when price increases, supply increases
A
Law of demand
B
Consumers
C
Law of supply
D
Producers
7) When price decreases, demand increases
A
Law of Supply
B
Producers
C
Consumers
D
Law of Demand
8) Having the advantage of producing certain goods is called what?
A
comparative advantage
B
absolute advantage
C
scarcity
D
opportunity cost
9) The maker of goods and services
A
human resources
B
consumer
C
buyer
D
producer
10) How an item will be produced is called what?
A
natural resources
B
productive resources
C
human resources
D
capital goods
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?