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Jaydan the basics of economics. Flashcards | StudBud
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Jaydan the basics of economics.
Jaydan the basics of economics.
10 terms
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StudBud Administration
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Business exist to satisfy consumers..?
products and price
passion and wants
wants and needs
needs and happiness
2
Equilibrium is where the demand and supply both meet?
False
True
3
Any price above the Equilibrium is a..?
demand
supply
shortage
surplus
4
What is the most important needs in life?
love, water, shelter, food
family, friends, animals, food
clothing, family, shelter, money
food, water, shelter, clothing
5
How many levels of Maslow's Hierarchy of Needs are there?
7
4
2
5
6
How many determinants of demand is there?
5
8
4
7
7
Supply goes up to the...?
Left
Up
Right
Down
8
True or False. Demand goes up to the right.
False
True
9
Any price lower the Equilibrium is a...?
surplus
supply
shortage
demand
10
How many determiants of supply is there?
6
4
8
2
