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Economics Review
Test Description: Economics Review
Instructions: Answer all questions to get your test result.
1) Anyone that buys or uses something
A
Consumer
B
Capitol
C
Law of Diminishing Returns
D
Monopoly
2) Process of manufacturing from raw materials
A
Gross
B
Production
C
Overhead
D
Depreciate
3) Another word for trading without money
A
Monopoly
B
Barter
C
Consumer
D
Law of Diminishing Returns
4) Owning every aspect of a business
A
Monopoly
B
Twister
C
Gross Domestic Product
D
Export
5) Maximum enjoyment of a product
A
Capitol
B
Gross Domestic Product
C
Gross
D
Maximum Utility
6) Percentage of people that can read or write
A
Consumer
B
GDP
C
Literacy Rate
D
Depreciate
7) People that make up the work force
A
Gross Domestic Product
B
Labor
C
Monopoly
D
Export
8) How much people really need/want something
A
Gross
B
Law of Diminishing Returns
C
Overhead
D
Demand
9) Gradual rise in all prices due to having more money in the system
A
Inlfation
B
Capitol
C
Consumer
D
Depreciate
10) Value of a product goes up after purchase
A
Law of Diminishing Returns
B
Gross
C
Overhead
D
Appreciation
11) Value of a product goes down after purchase
A
Depreciate
B
Decapitate
C
Import
D
Appreciate
12) Crop produced for its economic value (Not just to feed the farmer)
A
Net
B
Gross
C
Cash Crop
D
Interest
13) System of money in general use
A
Export
B
Gross Domestic Product
C
Import
D
Currency
14) The longer you sell something, the less money you make
A
Overhead
B
Demand
C
Consumer
D
Law of Diminishing Returns
15) Develop system of manufacturing
A
Export
B
Monolpoly
C
Literacy Rate
D
Industrialize
16) Material drawn from the Earth
A
Interest
B
Gross
C
Natural Resources
D
Inflation
17) Goods brought into the country
A
Gross Domestic Product
B
Law of Diminishing Returns
C
Imports
D
Exports
18) Goods shipped out of the country
A
Law of Diminishing Returns
B
Imports
C
Barter
D
Exports
19) Taxes on imported products
A
Economics
B
Tarrif
C
Depreciation
D
Barter
20) Total money your country earns on exports
A
Demand
B
Gross Domestic Product
C
Interest
D
Law of Diminishing Returns
*select an answer for all questions
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