The Market Economy Review

The Market Economy Review

12th Grade

15 Qs

quiz-placeholder

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The Market Economy Review

The Market Economy Review

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Anne Abeltin

Used 7+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A consumer is... 

monkey
the economic factors affecting the price, demand, and availability of a commodity.
somebody who takes away stuff
a person who purchases goods and services for personal use.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A producer is...

a person, company, or country that makes, grows, or supplies goods or commodities for sale.
A person
Mars
the state of being scarce or in short supply; shortage.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Profit is...

I like trains
the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
the economic factors affecting the price, demand, and availability of a commodity.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Innovation is...

supply and demand

the formation of a word from a sound associated with what is named (e.g., cuckoo, sizzle ).

make changes in something established, especially by introducing new methods, ideas, or products.

the economic factors affecting the price, demand, and availability of a commodity.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

An incentive is...

trouble or difficulty caused to one's personal requirements or comfort.
a thing that motivates or encourages one to do something.
a payment or concession to stimulate greater output or investment.
a policy of extending a country's power and influence through diplomacy or military force.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Opportunity Cost is...

the loss of potential gain from other alternatives when one alternative is chosen.
the formation of a word from a sound associated with what is named (e.g., cuckoo, sizzle ).
make changes in something established, especially by introducing new methods, ideas, or products.
HI MOM!

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Scarcity is...

measuring a small distance from end to end.
the action of making or manufacturing from components or raw materials, or the process of being so manufactured.
(especially of food, money, or some other resource) insufficient for the demand.
make (something) on a large scale using machinery.

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