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- 1. Multiple ChoiceIn an economy what three things must take place?Production, Relocation, ConsumptionProduction, Distribution, and ConsumptionProduction, Distribution, and Labeling
- 2. Multiple Choice____________ are the products made in an economy.GoodsServicesConsumption
- 3. Multiple Choice______________________ are provided to you by a company.ConsumptionGoodsServices
- 4. Multiple Choice____________________ is the amount of a good that a company has.SupplyDemandGood
- 5. Multiple Choice__________________ is the willingness and desire of a peson to buy a good.SupplyServiceDemand
- 6. Multiple ChoiceIf the supply decreases and the demand increases then the price will ___________________.DecreaseIncreaseStay the same
- 7. Multiple ChoiceIf the supply increases, but the demand decreases, then the price will _______________.DecreaseIncreaseStay the same
- 8. Multiple ChoiceWho determines the price of a good?The consumerThe producerThe distributor
- 9. Multiple ChoiceIf the demand of a good and supply stays the same the price will _______DecreaseStay the sameIncrease
- 10. Multiple ChoiceWhen a company has more supply than demand this is known as a _______________.EquilibriumShortageSurplus
- Answer choicesTagsAnswer choicesTags