stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Basics of Economics Quiz Flashcards | StudBud
Explore
/
Basics of Economics Quiz
Basics of Economics Quiz
10 terms
·
StudBud Administration
·
18 plays
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What is a service?
Doing work for someone to help them
Helping out
Doing somehing nice for your friend Harold
idk
2
Supply curves are postive and Demand curves are negative
False
True
3
What is value
something with value
How much worth an item has
how much something costs
v
4
Supply and Demand is the interaction with the seller of resource and the person who buys is.
False
True
5
The 4 basic economic systems are Mixed, Market, Command, and Traditional?
False
True
6
Costs and benefits
the benefit of making choices minus the money it took to make that choice.
the cost of benefits
how much clothes are worth
The benefit of costs minus 12
7
What is a good
an item that satisfies a want/ need
something good
you
an item the doesn't help your wants or needs
8
The demand increases when the line moves left on a graph?
False
True
9
What is one of the broad social goals of economics?
Equity
Efficiency
Freedom
Growth
10
What is a demand curve?
a curve
something that demands
shows the relationship between price and quantity demanded
shows the relationsip between supply and demand
