Economics Final Exam Review (Part 4)

Test Description: Economics Final Exam Preparation

Instructions: Answer all questions to get your test result.

1) _______________ is the study of how people try to satisfy their unlimited wants with limited resources.

2) As prices increases, consumers will buy________ of the good.

3) Video games and brand name clothes have ________________ demand.

4) Target and Ebay are considered to be markets.

5) As production increases, prices will_____________. This is called the law of supply.

6) Expansionary policies are used to...

7) Contractionary policies are used to slow down the economy.

8) ______________demand are goods unaffected by price changes.

9) Check Clearing services are conducted by the U.S. Treasury.

10) Scarcity is the basic economic problem.


*select an answer for all questions

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