Economics Semester Review

Economics Semester Review

Assessment

Flashcard

Other

12th Grade

Hard

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20 questions

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1.

FLASHCARD QUESTION

Front

A car is an example of

Back

durable good

2.

FLASHCARD QUESTION

Front

Opportunity cost refers to

Back

the value of the next best alternative

3.

FLASHCARD QUESTION

Front

Economics is best defined as the study of how societies deal with the problem of scarcity

Back

the problem of scarcity

4.

FLASHCARD QUESTION

Front

The economic system of the United States is considered a

Back

free market capitalist economy

5.

FLASHCARD QUESTION

Front

Which is a good synonym for the work barter in the term barter economy?

Back

trade

6.

FLASHCARD QUESTION

Front

Consumers in a free enterprise economy ultimately determine _____ to produce.

Back

what

7.

FLASHCARD QUESTION

Front

Consumers are powerful because they drive decisions about what to produce

Back

they drive decisions about what to produce

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