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Economics Systems Vocab
Economics Systems Vocab
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The Econ Vocab Quiz with all 16 words
Flashcards
20 cards
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Questions
20
Answers
1
The study of how people manage limited resources to satisfy their needs.
Monopoly
Management
Economics
Resourcing
2
The price trend when demand decreases on a good as the supply remains high
Unchanged
Increase
Decrease
Undetermined
3
The economic system where goods and services are exchanged with little regulation.
Economics
Entrepreneur
Trust
Free Market
4
If the supply decreases and demand stays the same, the price will go up.
False
True
5
The amount of a product which is available
Demand
Supply
Resource
Reward
6
A person who operates a business and takes a greater than normal financial risk
Consumer
Entreprenuer
Banker
Sponsor
7
If the supply stays the same and demand increases, the price will go down.
False
True
8
The amount of a product which is available and the amount which is wanted by customers.
Supply and Demand
Stocks and Bonds
Bear and Bull Markets
Vertical and Horizontal Integration
9
Machines and equipment created by scientific researchers
Natural Resources
Services
Human Resources
Technology
10
The concept of a company that has complete control of an industry
Trust
Corporation
Monopoly
Dividend
11
The amount of a certain item that can be created or sold
Trust
Quota
Dividend
Market
12
The economic system in which goods and services are exchanged with little regulation
Command Economy
Traditional Economy
Regulatory Economy
Market Economy
13
Economy where government controls the economic decisions
Traditional Economy
Parent Economy
Command Economy
Market Economy
14
Someone who buys products
Consumer
Entrepreneur
Banker
Debtor
15
Amount of money a business earns after paying their expenses
Stock
Quota
Dividend
Profit
16
A way of getting goods and services without using money
Bartering
Transporting
Monopolizing
Merging
17
An economy where people depend on trading and bartering without money
Traditional Economy
Command Economy
Corporate Economy
Market Economy
18
If the supply increases and demand stays the same, the price will go down.
False
True
19
Paying someone to do something for you
Services
Merger
Stocks
Trust
20
The amount which is wanted by customers.
Price
Demand
Merchandise
Supply
