stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economics Practice Flashcards | StudBud
Explore
/
Economics Practice
Economics Practice
12 terms
·
StudBud Administration
·
200 plays
Imported from external platform
Flashcards
12 cards
F
Practice quiz
P
Host live
L
Questions
12
Answers
1
I made spaghetti for 4 people. Turns out, placing 2 boxes of noodles is actually 12 servings of pasta. We have leftovers
scarcity
surplus
supply and demand
opportunity cost
2
read the picture.
money and swim
shift and money
money and sleep
swim and shift
3
Evelyn babysits and makes $10 an hour
supply and demand
scarcity
producer
consumer
4
When the supply is _________ and the demand is _____ the price decreases
high; high
high; low
low; high
low; low
5
Lily spends ten bucks on lemonade mix and ice. She sold her lemonade. At the end of the day, she made $20
opportunity cost
scarcity
supply and demand
profit
6
When the Iphone 14 comes out, what will happen to the iphone 13's price?
stays the same
decrease
increase
7
a car company made thousands of cars this year but people haven't been buying cars leaving the car dealer lots full.
supply and demand
scarcity
consumer
producer
8
The newest book of a popular series has just been released. Our book store has 20 copies. What happens to the price?
stays the same
increase
decrease
9
It is almost Christmas and the hottest toy of the year is sold out. People are paying 10x what it is worth online.
scarcity
producer
consumer
supply and demand
10
Casen could make $25 this afternoon working or he can attend her grandma's birthday party. He goes to the party.
scarcity
supply and demand
profit
opportunity cost
11
Elijah goes to the store and buys a new skateboard
scarcity
consumer
producer
supply and demand
12
When the supply is _________ and the demand is _____ the price rises
low; high
high; high
high; low
low; low
