stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economics Basics Flashcards | StudBud
Explore
/
Economics Basics
Economics Basics
27 terms
·
StudBud Administration
·
31 plays
Imported from external platform
Flashcards
27 cards
F
Practice quiz
P
Host live
L
Questions
27
Answers
1
Which is NOT a stock market index?
S&P 500
New York Stock Exchange
Dow Jones Industrial Average
Nasdaq
2
Anyone who buys a good or service...
a customer
a consumer
a client
a shopper
3
What is an entrepreneur?
person who combines resources to produce goods and services
person who takes a risk in starting a business
4
Surging stock market that is gaining profits for investors
Bull Market
Bear Market
Bell Market
Mole Market
5
Economics is the knowledge of...
what wealth is
money
how wealth is made
how wealth is produced, consumed, and exchanged
6
Which is the best definition of wealth?
Money, property, and items of value
Money and resources that can be used to produce more $
MONEY!!!
7
The money you earn is your...
income
profit
spending money
paycheck
8
Which currency is used in United Kingdom?
Yen
Real
Pound
Euro
9
Which of the following are examples of a service?
groceries
haircut
school supplies
car wash
10
The opposite of scarcity is...
surplus
quality
quantity
supply
11
A key difference between saving and investing is
Saving is emergencies & goals, investing is long-term wealth
Investing has a guaranteed return, savings does not
Savings is for everyone, investing is for the wealthy
Your money is insured when investing, it is not in savings
12
What is the currency of Japan?
Pound
Yen
Euro
Dollar
13
What is a main purpose of money?
To serve as a medium of exchange
To bring happiness to all
To provide records of past purchases
To make checking obsolete
14
Stagnant stock market, or one that is losing money
Bare Market
Bull Market
Flooded Market
Bear Market
15
Which is NOT a typical goal for a savings account?
To pay for higher education
To buy groceries for this week
To save for a new car
To create an emergency fund
16
Goods are...
high quality items
food
clothing
items that can be purchased
17
What currency is used in Germany?
Rupee
Yen
Dollar
Euro
18
What is the currency of Switzerland?
Peso
Yen
Dollar
Franc
19
What are two more main purposes of money?
To look rich
As a medium of exchange
As a indication of self confidence
To act as a store value
20
What do you call anywhere goods and services are bought or sold?
Store
Market
Target
Business
21
Mr. Girard is earning 2% on an investment and inflation is increasingby 3%. What is happening to his purchasing power?
It's not changing
It's increasing
It's decreasing
Inflation and purchasing power are not related
22
What do you call the earliest form of "spending"?
Stocks and Bonds
Credit cards
Barter
Cash
23
The amount of goods and services available is called...
storage
supply
stock
goods
24
Someone who creates or provides a good or service is...
a consumer
a producer
an economist
an inventor
25
What currency is used in China?
Euro
Yuan
Rupee
Yen
26
Ben's checking account balance was so low, he had to _________ money from his savings.
transfer
withdraw
steal
deposit
27
The buyers desire for a product at a particular time is...
demand
supply
want
need
