Q1. Which of the following is considered to be one of the four types of economies we have studied?
Q2. In a traditional economy, the decision to make certain products is decided by
Q3. Which of the following is not an example of a service:
Q4. Real items, such as cars, watches, and clothing; things people make
Q5. Why do countries trade with each other?
Q6. If the store has 100 packs of toilet paper and 200 people want to buy it, is it a shortage or surplus?
Q7. ___are the main determinants of price elasticity of demand.
Q8. This image represents a(n):
Q9. What is a factory building an example of?
Q10. All personal needs, such as health care and education, are provided by the government.
Q11. Anewtechnology increases the speed of computers without increasing production costs. What is the MOST LIKELY effect of this technology?
Q12. What is another word for extra?
Q13. refers to the dispersal of materials, including land, water, and minerals among geographic locations
Q15. A specific limit placed on the number of imports that may enter a country
Q16. What is collective bargaining?
Q17. Which is a likely complement to a tablet computer?
Q18. Buy goods and services from other countries, money will leave the circular flow to pay for these goods
Q19. If the citizen participation in a country is labeled as democracy then?
Q20. The law of demand states that, all other factors being equal, as the product price increases, the quantity of the product sought by buyers
Q22. According to our text , pg 13, there are ___ factors that can affect supply .
Q23. Why might a government encourage a monopoly?
Q24. Do you know what is ROTTEN TOMATOES?
Q25. Occurs when something prompts consumers to buy different amounts at every price