Chapter 7 Test: Question Preview (ID: 11433)


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A plan that determines how money will be spent
a) inflation b) resource c) budget d) barter
an increase in prices when manufacturers cannot meet the demands of consumers
a) consumer b) demand c) employer d) inflation
a valueable product, such as electricity, that people need
a) resource b) consumer c) inflation d) budget
a business that makes products consumers buy
a) barter b) manufacturer c) inflaton d) consumer
trade goods for other goods
a) consumer b) resource c) barter d) inflation
those who buy or use a product
a) consumer b) resource c) employer d) barter
the boss who pays the employee for working
a) budget b) resource c) inflation d) employer
things a person must have to live
a) standard of living b) wants c) needs d) supply
the amount of products that businesses produces
a) supply b) needs c) wants d) demand
an economic measure of how well people in a country live
a) mint b) supply c) standard of living d) demand
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