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Economics
Economics
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Economics show how people produce wealth, how they distribute it among themselves, and use it.
Flashcards
21 cards
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Questions
21
Answers
1
The thing you give up when you buy something else is called...
consumer
opportunity cost
deposit
producer
2
How does advertising affect the demand for a product?
Advertising doesn't change the demand for a product.
Advertising makes the demand go up.
Advertising makes the demand go down.
3
Which is a list of needs?
sweater, water, apple
water, shirt, nail polish
nail polish, television, sweater
shoes, shirt, necklace
4
Trading money without using money is...
currency
barter
scarcity
resource
5
To give money to the bank means...
deposit
barter
specialization
withdrawal
6
The United States gets bananas from Costa Rica. This is an example of...
Opportunity Cost
Stealing
Advertising
Import
7
In November, what will probably happen to the price of Halloween costumes?
The price will stay the same.
Advertising will go up.
The price will go down.
The price will go up.
8
Which item is NOT a service?
a pack of gum
haircut
car wash
piano lessons
9
Making one kind of good or service is called...
barter
resource
specialization
deposit
10
Which is an example of bartering?
Lisa washed Mrs. Daniel's car. Mrs. Daniel paid Lisa $5.
Becky's mother wrote a check for groceries at the store.
Mary gave Susan a present for her birthday.
Tim gave a cookie to Bob. Bob gave Tim an apple in exchange.
11
Depending on others to produce things that you need is called...
interdependence
scarcity
friendship
deposti
12
A country's system of money is called...
scarcity
opportunity cost
currency
resource
13
What is a loonie?
A kind of money that was used in ancient China.
The kind of paper that Mexican money is printed on.
A person who does not want to barter with another person.
The nickname of an 11-sided coin from Canda.
14
What happens when you borrow money from a bank?
You pay the bank interest.
The bank pays you interest.
You make a deposit in the bank.
The bank has to pay someone else interest.
15
Anything used to produce things is called...
consumer
work
resource
barter
16
Giant rocks do not make a good form of money because large rocks are not...
recognizable
portable
divisible
durable
17
Tea leaves do not make a good form of money because tea leaves are not...
portable
tasty
divisible
durable
18
When you go to the store and buy a bag of potato chips, you are a ....
producer
human resource
consumer
natural resource
19
The United States sends oranges to Costa Rica. This is an example of...
import
export
opportunity cost
advertising
20
In July, a store is running low on sunscreen. What is the supply and demand for sunscreen?
a high demand and high supply
a low demand and high supply
a high demand and low supply
a low demand and low supply
21
Not having enough of something is called...
currency
deposit
barter
scarcity
