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Studies Weekly Week 6 Economic Principles Flashcards | StudBud

Explore/Studies Weekly Week 6 Economic Principles

What occurs when there's a greater supply of something than a demand for it?

The government's main economic role is to use money and funds to provide _________to citizens.

Studies Weekly Week 6 Economic Principles

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Answers

1
The government's main economic role is to use money and funds to provide _________to citizens.
services
goods
jobs
money
2
What occurs when there's a greater supply of something than a demand for it?
demand
scarcity
surplus
supply
3
______is not having enough of something.
Supply
Opportunity cost
Scarcity
Demand
4
What is the meaning of the word supply?
someone who makes a good or provides a service
the amount of product people actually want or need
a person who buys goods and services
the amount of product that is available
5
____________is relying on each other to get things done.
Exporting
Interdependence
Trading
Importing
6
Purchasing is trading goods without using money.
True
False
7
What is a consumer?
the amount of product that is available
someone who makes a good or provides a service
the amount of product people actually want or need
a person who buys goods and services
8
________is when you buy, sell, or exchange a good or service for something else you want or need.
Import
Trade
Interdependence
Export
9
What is a producer?
a person who buys good and services
the amount of product that is available
the amount of product people actually want or need
someone who makes a good or provides a service
10
What is the meaning of the word demand?
the amount of product people actually want or need
a person who buys goods and services
someone who makes a good or provides a service
the amount of product that is available