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Economics Flashcards | StudBud
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Economics
Economics
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A quiz about Chapter one in the economic book.
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
What is the easiest way to show economic growth?
idk
If you have a lot of money.
Using the production possibilities frontier curve.
Using a credit card.
2
What happens to the stock market if people stop buying and selling products?
Stock market crashes, resulting in no circulation of money.
More money.
People will get rich.
Stock market will never crash.
3
What's the difference between product markets and factor markets?
factor markets sell good and product markets create goods
none of the above
product markets sell goods and factor market make goods
no difference
4
What does it mean when a supply of 5,000 pencils drop drastically?
It means the supply is higher than the demand.
It means the supply and demand are both high.
It means the demand is higher than the supply.
It means that the supply and demand are both low.
5
How is politics related to Economics?
We have the same t-shirts
They're not
In political campaigns, politions cover economics issues.
None of the the above.
6
___ provides a framework for analysis, a structure that helps explain how things are organized.
Economics
Graphs
Charts
Civics
7
Give an example of Specialization
Money
None of the above
A teacher works for principle, principle works for district.
A person who is not good at their job.
8
Saving a lot of money is good.
True, being rich is good
False, too much money interrups the flow of stock market
9
How can an economic model help us understand what's going on in our economy?
Model that tranfers statistical info into visual for clarity
It does out work.
Economic model transfers information to other people.
None of the above.
10
What is the definition of standard of living?
Being poor
The ownership of nesessities and luxuries making life easier
Living with a lot of money
Living with joy
