

Economics (Special Flashcard)
Flashcard
•
Financial Education
•
11th Grade
•
Practice Problem
•
Hard
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33 questions
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1.
FLASHCARD QUESTION
Front
What is the primary function of a market?
Back
To facilitate the exchange of goods and services
2.
FLASHCARD QUESTION
Front
What term refers to the point where supply and demand meet?
Back
Equilibrium price
3.
FLASHCARD QUESTION
Front
Which of the following is an example of a monopolistic market? Options: Agricultural market, Utilities like electricity, Currency exchange, Retail clothing brands
Back
Retail clothing brands
4.
FLASHCARD QUESTION
Front
What does competition in a market encourage?
Back
Better quality products
5.
FLASHCARD QUESTION
Front
A decrease in consumer demand generally leads to:
Back
Decreased supply
6.
FLASHCARD QUESTION
Front
What is the role of producers in a market?
Back
To supply goods and services
7.
FLASHCARD QUESTION
Front
Which of the following is NOT a type of market structure? Perfect competition, Monopoly, Trade union, Oligopoly
Back
Trade union
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