Why do people manage their money?

So they can have enough for their wants and needs

How do companies make a profit?

Increase revenue and decrease expenses

Which of these might cause a decline in economies?

Production slows and consumers buy fewer goods and services

Which of the following are ways to increase economic development?

Investing in education and training

Why to people trade goods and services?

Because they gain something in the process

total value of all goods and services produced in a year

studbud

Economic Development, Trade and Money Management

10 termsStudBud Administration112 plays

Introduces basics of economics

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Why do people manage their money?
So they can have enough for their wants and needs
So they can save everything to pass on to their children
So they can buy whatever they want whenever they want
So they can invest in the stock market
2
How do companies make a profit?
Increase revenue and decrease expenses
Increase expenses and decrease revenue
Decrease expenses and decrease revenue
Increase expenses and increase revenue
3
A developed country is likely to have which of the following?
lower productivity
a strong economy
less-productive economy
lower standards of living
4
Which of these might cause a decline in economies?
Production grows and consumers buy more goods and services
Production slows and consumers buy fewer goods and services
Production slows and consumers buy more goods and services
Production grows and consumers buy fewer goods and services
5
The term for a general increase in prices over time is what?
recession
profit
inflation
revenue
6
Which type of economic system do most countries have?
Mixed
Market
Command
Traditional
7
Which of the following are ways to increase economic development?
Lowering wages
Controlling prices
Encouraging agriculture
Investing in education and training
8
Why to people trade goods and services?
Because they can provide everything they need for themselves
Because they live near everything they need
Because they gain something in the process
Because they want to help without receiving anything
9
A stock is
interest on money borrowed
a certificate promising to pay back money borrowed
a government loan
ownership in a company
10
What is GDP?
a loan from the government
part of a company
total value of all goods and services produced in a year
the money made by a company

Economic Development, Trade and Money Management Flashcards | StudBud