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Markets, Demand and Supply Flashcards | StudBud
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Markets, Demand and Supply
Markets, Demand and Supply
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Economics Cambridge IGCSE
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
When 3 Pizzas are supplied, what is the Price?
$1.50
$1
$2.50
$3.00
2
Resources are...
made into goods and services
economics related
what gets recycled
another name for secondary sources
3
When prices go up supply will...
stay the same
rise
fall
do nothing
4
Which of these is the most like a command economy?
United Kingdom
Cuba
Bolivia
USA
5
If the price falls, the demand is likely to?
Stay the same
fall
rise
copy the Price
6
At a demand of 5 Pizzas, what is the Price?
$1
$2
$2.50
$1.50
7
How many Pizzas are demanded at $2?
5
17
12
8
8
A free market is...
Independent
where there is no government intervention
where there is a mix of the government and private sector
where there is a lot of government intervention
9
Showing how much would be bought at any given Price is ....... demand?
special
normal
actual
effective
10
At a Price of $2, how many Pizzas are supplied?
6
8
3
11
