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6th Grade Economics Review Flashcards | StudBud
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6th Grade Economics Review
6th Grade Economics Review
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Flashcards
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Questions
10
Answers
1
The price that creates an equal
demand
for the
supply
is called...
market price
inflation
oppurtunity cost
scarcity
2
The amount of a product that a manufacturer produces is called...
oppurtunity cost
demand
scarcity
supply
3
A limited number of any one thing is called...
supply
oppurtunity cost
demand
scarcity
4
Producers of a product will lower the price of an item to increase...
oppurtunity cost
demand
supply
scarcity
5
If
supply
is high but
demand
is low, prices will...
go down
stay the same
go up
6
If the
supply
and the
demand
of a product are the same, prices will...
go up
go down
stay the same
7
The amount of a product that people want to buy is called...
demand
oppurtunity cost
scarcity
supply
8
Giving up something to have/do something else...
demand
supply
oppurtunity cost
scarcity
9
If
demand
is high but
supply
is low, prices will...
go down
stay the same
go up
10
If the price of an item increases, demand for that item will...
decrease
increase
stay the same
