2.01 Vocabulary Question Preview (ID: 58661)
Lesson 2.01.
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What is an organization that employs people to produce goods or services
a) consumer
b) worker
c) business
d) the Fed
The term for someone whose role is to use goods and/or services
a) producer
b) consumer
c) teacher
d) planner
Which term is a cost or benefit that motivates a decision or action
a) allocation
b) resource
c) distribution
d) incentive
What do you call research into the size, location, and makeup of a product market
a) market research
b) market structure
c) stock market
d) supply chain
What term is referred to as the influence of other people's behavior on someone's decisions
a) demand curve
b) incentive
c) peer pressure
d) media
Term for someone whose role is to provide goods and/or services
a) producer
b) consumer
c) teacher
d) planner
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) cost
c) trend
d) distribution
Someone whose role is to make goods or deliver services
a) the Fed
b) consumer
c) worker
d) scarcity
This gives producers the information they need to determine how much people are willing to pay for a good or service?
a) consumers
b) producers
c) teachers
d) planners
Which term refers to the activities related to the production and distribution of goods and services in a particular geographic region
a) the supply curve
b) the economy
c) production curve
d) inflation
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