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Economy Flashcards | StudBud
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Economy
Economy
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Economy
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
When consumers want a good very badly and they want it, it is called...
Demand and Service
Goods and Demands
Services and goods
Supply and Demand
2
If the price is going up, the consumer must be buying alot of it, so.....
The demand is low, but the supply is high
The demand is high, but the supply is low
3
When most people agree to something is it called...
Power Rule
My Way Rule
Majority Rule
Minority Rule
4
Another word for money is...
moola
dinero
cash
5
When there is not a lot of goods and their is a high demand, the product is called a ________.
Goods
Debt
Scarcity
Supply
6
True or False: You should spend money on a want before you spend money on a need.
False
True
7
What need is this?
transportation
water
air
shelter
8
What need is this?
shelter
water
air
transportation
9
A want is something...
...is something that youmust have to stay alive
...is something that youcanuse, and hold in your hand
...that you would like to have,but don’t really need
...is something thatsomeone does for you
10
Mary Musgrove and James Oglethorpe set upa trading post so they could....
Start a colony
Trade with others
Build things with others
Start a war
11
A need is something...
...is something thatsomeone does for you
...is something that youcanuse, and hold in your hand
...that you would like to have,but don’t really need
...is something that youmust have to stay alive
12
A good is....
...something you would like to have,but don’t really need.
...is something that youmust have to stay alive.
...is something thatsomeone does for you
...something that youcan use, and hold in your hand.
13
What need is this?
water
shelter
transportation
air
14
If you don't have enough money, you will go into _________ and owe money to others.
stealing
debt
robbery
scarcity
