Social 9 Economics

Question 1

In poor economic times, _____ are more selective about where they spend their money.

Accepted Answer

consumer

Question 2

Nails

Accepted Answer

Capital

Question 3

All countries face this at some point.

Accepted Answer

scarcity

Question 4

Another term for market economy:

Accepted Answer

privatization

Question 5

In economic terms, a tractor would represent:

Accepted Answer

capital

Question 6

This was an example of a monopoly:

Accepted Answer

Microsoft

Question 7

Voting and negotiating as a group is an example of:

Accepted Answer

collective bargaining

Question 8

This is characterized by fluctuations:

Accepted Answer

Economy

Question 9

A farm, the farmer, and the tractor are the factors of:

Accepted Answer

production

Question 10

In economic terms, a waiter is an example of

Accepted Answer

labour

Question 11

When demand and supply meet, the price of the product will reach:

Accepted Answer

equilibrium

Question 12

Another term for market economy:

Accepted Answer

competition

Question 13

Timber

Accepted Answer

Land

Question 14

Brick Layer

Accepted Answer

Labour

Question 15

An example of a crown corporation in Canada is:

Accepted Answer

CBC

Question 16

A market economy is on this side of the continuum:

Accepted Answer

right

Question 17

In economic terms, oil is

Accepted Answer

land

Question 18

Something that happens to all economies:

Accepted Answer

black market

Question 19

A monopoly is when a company uses this to crush their competition:

Accepted Answer

both power and money

Question 20

When gov'ts decide to become more involved in the economy, they shift ____

Accepted Answer

left

Questions 20