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Quiz - Unit 2

Authored by ANDREW LONG

9th - 12th Grade

Used 26+ times

Quiz - Unit 2
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any place where buyers and sellers meet to exchange goods and service.

Value

Market

Trade

Cost and Benefit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a barter system to function both people have to want what the other has.

Surplus

The Barter System

Exchange Rate

Double Coincidence of Want

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A method of exchange that uses goods instead of money.

Surplus

The Barter System

Exchange Rate

Double Coincidence of Want

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Having more than what is needed or will be used.

Surplus

The Barter System

Exchange Rate

Double Coincidence of Want

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The value of one good in a trade as compared to another good.

Surplus

The Barter System

Exchange Rate

Double Coincidence of Want

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It must be able to withstand time and environmental changes.

Divisible

Portable

Durable

Recognizable

Scarce

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The action of exchanging goods and services in a market.

Value

Market

Trade

Cost and Benefit

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