Economics Vocabulary
3 years ago
vanessamcclure70
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  • Question 1
    60 seconds
    Q. A way a country manages its money and resources to produce, buy, and sell goods and services. 
    answer choices
    supply
    economy
    voluntary exchange
    loans
  • Question 2
    60 seconds
    Q. A measure of how many people want to buy a particular good or service.
    answer choices
    demand
    supply
    interest
    loans
  • Question 3
    60 seconds
    Q. The total amount of a good or service that is available to consumers. 
    answer choices
    interest
    loans
    demand
    supply
  • Question 4
    60 seconds
    Q. A person who purchases a good or service. 
    answer choices
    Human Resources
    Consumers
    Producers
    Services
  • Question 5
    60 seconds
    Q. A person or company that either makes, grows, or does a specific good or service. 
    answer choices
    Consumer
    Producer
    Interest
    Services
  • Question 6
    300 seconds
    Q. The economic principle that buyers and sellers are willingly engage in free-market transactions.  For this occur, both the buyer and the seller must believe that they are better off as a result of the transaction. 
    answer choices
    Banking sector
    Human resources
    Business sector
    Voluntary Exchange
  • Question 7
    300 seconds
    Q. African Americans would rent someone else's land just so they can farm that land and grow goods.  When the goods are grown, the sharecropper would share the money with the landowner and just keep a little bit of it. 
    answer choices
    Government Sector
    Market
    Sharecropping
    Freedmen's Bureau
  • Question 8
    60 seconds
    Q. to remove or take away - in this unit, we are talking about money.  
    answer choices
    interest
    loans
    opportunity cost
    withdraw
  • Question 9
    120 seconds
    Q. Where households and businesses deposit money with banks, and then withdraw it as needed to pay for purchases. 
    answer choices
    checking account
    savings account
    loans
    personal finance
  • Question 10
    120 seconds
    Q. where households and businesses keep their money so it is left alone, rather than being withdrawn regularly.
    answer choices
    checking account
    savings account
    loans
    personal finance
  • Question 11
    120 seconds
    Q. Money that is paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt. 
    answer choices
    opportunity cost
    price
    interest
    government sector
  • Question 12
    180 seconds
    Q. money that households or businesses borrow for a length of time.  The money needs to eb repaid and you must pay interest to the bank for the amount of time it was used. 
    answer choices
    interest
    loans
    human sector
    market
  • Question 13
    120 seconds
    Q. selling your labor in order to create income for the household. 
    answer choices
    human resources
    banking sector
    government sector
    business sector
  • Question 14
    120 seconds
    Q. the part of the economy that provides financial support for the individuals and businesses. 
    answer choices
    business sector
    banking sector
    government sector
    personal finance
  • Question 15
    180 seconds
    Q. in a free market economy, the business sector is the segment that produces goods and services. 
    answer choices
    government sector
    banking sector
    opportunity cost
    business sector
  • Question 16
    120 seconds
    Q. the part of the economy that collects taxes and provides and manages public services. 
    answer choices
    government sector
    business sector
    banking sector
    opportunity cost
  • Question 17
    120 seconds
    Q. place where producers and consumers engage in the exchange of goods and services
    answer choices
    market
    price
    opportunity cost
    personal finance
  • Question 18
    120 seconds
    Q. the cost a consumer must play to purchase a good or service from a producer. 
    answer choices
    market
    price
    opportunity cost
    personal finance
  • Question 19
    120 seconds
    Q. when you must give up something in order to obtain something else.  It is always your second-best alternative 
    answer choices
    market
    price
    opportunity cost
    personal finance 
  • Question 20
    120 seconds
    Q. the set of financial choices made by individuals.  Responsible personal finance includes sensible budgeting, investing, and saving.  
    answer choices
    market
    price
    opportunity cost
    personal finance
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