23 computers, the amount of something that is available

A person who sells goods and services.

control (控制) of the supply or trade (交易) in a good/service, A board game

money gained by selling something for more than it cost

Two or more producers sell the same goods or services.

Which countries are "Free Market" economies?

Singapore, Australia, The United States

limited amount of resources available

What is opportunity cost?

benefit you give up by choosing to do one thing over another

A person who buys goods and services.

110,000 people want to buy the iPhone6, the number of consumers who want to buy the good or service

What is a market economy?

Buying and selling of goods and services around the world., Producers decide what to sell. Consumers decide what to buy.

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Social Studies 6: The Market Economy

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A review of consumers, producers, and the market.

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Questions 12

Answers

1
What is supply?
46 people
23 computers
the number of consumers who want it
the amount of something that is available
2
What is a producer?
A person who owns (拥有) many companies.
A person who buys goods and services.
A person who sells goods and services.
A person who likes to go to the market.
3
Which countries are "Command" economies?
The United Kingdom
Cuba
North Korea
Canada
4
What is a monopoly?
Two or more people sell a similar good or service
control (控制) of the supply or trade (交易) in a good/service
A board game
The amount of good or service available
5
What is profit?
the amount of a good or service available
money gained by selling something for more than it cost
the number of consumers who want to buy a good or service
how much a good or service cost
6
What is competition?
Two or more producers sell the same goods or services.
A fight (打架) between two people.
A race (赛跑) between two or more people.
Two or more people buy the same goods or services.
7
Which countries are "Free Market" economies?
China
Singapore
Australia
The United States
8
What is scarcity?
limited amount of resources available
process (处理) of making newer and better things
proft
the cost of a good or service
9
What is opportunity cost?
the amount of money you earn (赚)
benefit you give up by choosing to do one thing over another
the price of a good or service
the place you buy or sell goods and services
10
What is a consumer?
A person who sells goods and services (制品,服务).
A person who buys goods and services.
A person who manufactures (制造) things.
A person who likes to eat.
11
What is demand?
110,000 people want to buy the iPhone6
the limited (有限) amount of resources (资源) available
the number of computers available
the number of consumers who want to buy the good or service
12
What is a market economy?
A place to eat lunch.
Buying and selling of goods and services around the world.
Producers decide what to sell. Consumers decide what to buy.
A place to buy goods and services.

Social Studies 6: The Market Economy Flashcards | StudBud