Which of the following will illustrate an interaction of bartering?

goods and services are traded for other goods and services

In a free market, how do supply and demand balance each other over time?

the buyer and seller will agree on a price and amount that satisfies both.

What is the definition of demand?

the amount of something a consumer wants to buy

the lack of a resource to produce goods

What are the four major kinds of resources?

land, labor, capital, and entrepreneurship

Why is technology an important resource?

it is easier and cheaper to create goods.

Which of the following is an example of a barrier to trade?

a country bans trade that hurts its own producers.

studbud

Chapter 2 lesson 2

10 termsStudBud Administration359 plays

Exploring economics

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following will illustrate an interaction of bartering?
goods and services ae bought from other countries.
goods and services are traded for other goods and services
goods are shopped out of a country and sold somewhere else.
goods and services are limited during conflict.
2
Running a business and taking on the risks of that business is?
demand
supply
capital
entrepreneurship
3
In a free market, how do supply and demand balance each other over time?
the buyer will want to buy less over time.
the seller asks the government to decide its price.
the buyer and seller will agree on a price and amount that satisfies both.
the seller will want to make more goods over time.
4
What is the definition of demand?
the lack of resource
the amount of something a consumer wants to buy
running a business and taking on the risks
the amount of a good or service a producer wants to sell
5
scarcity is?
running a business and taking on the risks of that business
the amount of a good or service a producer wants to sell
money and goods used to help people make or do things
the lack of a resource to produce goods
6
What are the four major kinds of resources?
traditional, command, market, and mixed
farmers, merchants, sellers, and buyers
land, labor, capital, and entrepreneurship
supply, demand, recession, and inflation
7
The amount of good or service a producer wants to sell is?
supply
scarcity
capital
entrepeunership
8
Why is technology an important resource?
technology always makes prices higher
technology always slows economic growth
it is easier and cheaper to create goods.
people do not need specific training to use it
9
Which of the following is an example of a barrier to trade?
a country both buys from and sells to other countries
a country is easy to reach due to its geography
a country trades goods for other goods and services
a country bans trade that hurts its own producers.
10
Money and goods used to help people make or do things is?
supply
capital
entreprenuership
scarcity

Chapter 2 lesson 2 Flashcards | StudBud