Global Business - Economics

A buyer's willingness and ability to pay a price for a specific quantity of a good or service.

• demand

• supply

• market

• inflation

Relationship between the amount of a resource that is available and the price.

• demand

• supply

• market

• inflation

The point at which supply and demand cross.

• inflation point

• supply point

• market price

• crosspoint

An increase in the average prices of goods and services in a country.

• deflation

• inflation

• market price

• demand price

The price of silicon used to make computer chips increases is what type of inflation?

• cost-push inflation

• demand-pull inflation

The government prints more money to pay its expenses is what type of inflation?

• cost-push inflation

• demand-pull inflation

Consumer borrow more to buy additional goods and services is what type of inflation?

• cost-push inflation

• demand-pull inflation

Labor unions make employers increase workers' pay is what type of inflation?

• cost-push inflation

• demand-pull inflation

The most attractive alternative given up when a choice is made, is the

• scarcity choice

• favorite choice

• economics cost

• opportunity cost

The limited resources available to satisfy the unlimited needs and wants of people.

• economics

• scarcity

• A problem

• inflation