Civics Module 6 Test Review

How does the lower price of a complement product impact the demand for cars?

What questions does a country consider when determining the best economic system?

________ is the want, willingness, and resources to buy a good or service.

______ is when two or more businesses come together that produce the same product.

The four factors of production include

By choosing either the new pair of shoes or the new headphones, you have made a ____________.

How does perfect competition affect the price of a product?

When people not willing to spend as much on goods and services, the demand curve does what?

What is it when there is a special type of something that only one business sells?

While at the store, you have to choose between a bag of chips or box of cookies. What is this?

When limited resources stop us from making all the goods and services we need we experience _

How does this monopoly affect the price of paint for the consumers?

What is it when one large business owns lets of different types of businesses?

_______ is used by a country to determine how best to influence trade and production

In Country A, the type of job a person does is based on custom. Which economic system is this?

What is it when the supply is less than the demand?