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