
Economy Quiz
Authored by Jennifer Madden
Other
12th Grade
Used 9+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
In what type of economy does the government make all the economic decisions?
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A basic economic system where customs and traditions shape how goods are made and traded
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Tropical storms have destroyed some orange orchards. With less oranges available, what is likely to happen to the price of oranges?
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Why did Target lower the price on the ugly shirt?
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When the demand for a product is higher, the price ________________.
increases
decreases
stays the same
automatically doubles
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A person who makes a product in the product market is called ___________________.
Consumer
Clerk
Worker
Producer
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A person who purchases a product is called a ________________________.
Producer
Consumer
Client
Banker
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