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HOW DOES THE ECONOMY WORK? Flashcards | StudBud
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HOW DOES THE ECONOMY WORK?
HOW DOES THE ECONOMY WORK?
12 terms
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StudBud Administration
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102 plays
Giving an answer to essential questions in economy
Flashcards
12 cards
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Practice quiz
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Host live
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Questions
12
Answers
1
PROVIDE WORKFORCE IN EXCHANGE OF MONEY IS ONE OF THE FUNCTIONS OF...
FAMILIES
COMPANIES
ECONOMIC AGENTS
STATE
2
According to the Law of the Supply and Demand, what happens when the price is too high?
DEMAND FALLS
DEMAND RISES
SUPPLY FALLS
EQUILIBRIUM
3
WHAT HAPPEN IN MARKET EQUILIBRIUM ?
THERE'S NO EXCESS OF DEMAND OR EXCESS OF SUPPLY
QUANTITY DEMANDED AND QUANTITY SUPPLIED ARE EQUAL
ALL ANSWERS ARE TRUE
PRICE OF EQUILIBRIUM IS REACHED
4
Total product that a firm would be able to offer to sale at a particular price is called...
SHORTAGE
SURPLUS
DEMAND
SUPPLY
5
Which is one of the most serious labour problems in underdeveloped countries?
Child labour exploitation
Best positions in large companies are for foreign workers
More than 80% of population works in primary sector
Work day is longer than 8 hours
6
Originally, Economy means "household management". What's the native language of the term?
English
Greek
Latin
Spanish
7
The essential objective of Public Education is....
Improving intellectual level of students
Obtaining economic benefits
Promoting social justice and equal opportunities
Giving employ to teachers
8
Who pays taxes on tobacco, alcohol and petrol?
The companies
Everybody
Only rich people
The consumers of this kind of goods
9
Many workers in tourism have a...
WELL PAID JOB
DANGEROUS JOB
HIGH SKILLED JOB
PART-TIME JOB
10
Which of these market forms is the worst for the consumers?
MONOPSONY
MONOPOLY
OLIGOPOLY
PERFECT COMPETITION
11
Retired people over 65 are considered.....
ACTIVE
UNEMPLOYED
INACTIVE
SELFEMPLOYED
12
In which economic sector should Starbucks be included?
PRIMARY
QUATERNARY
TERTIARY
SECONDARY
