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Ecenomics Flashcards | StudBud
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Ecenomics
Ecenomics
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which of the following is an example of delayed gratification?
ouch
waiting to buy a toy that's expensive, until the price drops
nine
buying an expensive toy now before it drops
2
What is the law of demand?
the demand lowers and the price goes down
idk
the price lowers and the demand goes up and vice verca
the price rises on a product and so does the demand
3
What is the law of supply
oof
when the price goes up and the supply goes up
sandwich
when the price goes up the supply goes down
4
Which of the following is an example of economic competition?
people fighting
businesses compete with prices to get customers
when economics thinks the're better
when businesses do things to lose customers
5
Which of the following are examples of substitute goods?
substitute teachers
if a restaurant doesn't have coke so you get Pepsi
instead of soda you get water
idk
6
Which of the following is an example of an incentive?
ooof
Working so you can get paid.
nothing
buying things so you can go broke
7
Which economic term means that there is only one seller?
monopoly
marquardt
supply
triangle
8
Which of the following are examples of complementary goods?
The price of potatoes goes up, the demand for fries drops
the cost of something
the cost of burgers goes down people get fat
rectangle
9
which economic term forces us to make decisions?
supply
scarcity
ooof
demand
10
If you want to make a profit?
12
Your revenue has to be greater than your costs
you can't
you have to sell stuff
