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2.01 Vocabulary
Test Description: Lesson 2.01
Instructions: Answer all questions to get your test result.
1) What is an organization that employs people to produce goods or services
A
the Fed
B
worker
C
consumer
D
business
2) The term for someone whose role is to use goods and/or services
A
consumer
B
producer
C
planner
D
teacher
3) Which term is a cost or benefit that motivates a decision or action
A
distribution
B
resource
C
allocation
D
incentive
4) What do you call research into the size, location, and makeup of a product market
A
market structure
B
supply chain
C
market research
D
stock market
5) What term is referred to as the influence of other people's behavior on someone's decisions
A
peer pressure
B
media
C
incentive
D
demand curve
6) Term for someone whose role is to provide goods and/or services
A
producer
B
consumer
C
teacher
D
planner
7) This is a term for a general direction of the market, like a higher demand or supply for a particular product or a service
A
distribution
B
trend
C
supply curve
D
cost
8) Someone whose role is to make goods or deliver services
A
worker
B
consumer
C
the Fed
D
scarcity
9) This gives producers the information they need to determine how much people are willing to pay for a good or service?
A
producers
B
consumers
C
teachers
D
planners
10) Which term refers to the activities related to the production and distribution of goods and services in a particular geographic region
A
inflation
B
production curve
C
the economy
D
the supply curve
*select an answer for all questions
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