Economic Assessment

Things that are required in order to live are known as

• Wants
• Needs
• Goods
• Resources

Tangible products you can purchase to meet your wants and needs

• Wants
• Needs
• Services
• Goods

Things that add comfort and pleasure to your life are

• Services
• Wants
• Needs
• Resources

Clothes, food, electronics are examples of services.

• True
• False

_________ figures used to measure economic performance.

• Economic Signs
• Economic Activities
• Economic Indicators
• Economic Grade

GDP stands for 

• Gross Demand Product
• Gross Domestic Product
• Gross Domestic Point
• Government Demand Point

Which of these is NOT an economic indicator?

• Labor Activities
• Inflation
• Consumer Spending
• Retail Sales

Which of the following would not be included in GDP?

• Exports to other countries
• Purchases of computers by government
• Dinner preparation for your family
• Automobiles purchased

This movement of the economy from one condition to another and back again is called 

• Business System
• Business Circle
• Business Cycle
• Business Loop

The quantity of a good or service that businesses are willing & able to provide at a particular price.

• Demand
• Supply
• Goods
• Services