Economics

What is the federal reserve?

• Central bank of the U.S.

• Economics

• A way to make money from your business

• Studies how businesses use things for nothing

What are the 4 economic resource categories?

• Stocks, bonds, mutual funds, securities

• Stocks, Mutual funds, Capital, Natural

• Natural, Human, Stocks, Bonds

• Natural, Capital, Human, Entrepreneurial

Who determines how economic resources are given out in a command economy?

• Customs

• The government

• The people

• Businesses

A mixed economy is a mix of market and traditional economies

• True

• False

• Hello

• Good Bye

What is supply?

• How much of a dollar amount is made

• the equilibrium

• How much of a good or service a business has

• when price of product is perfect

What is demand?

• The equilibrium

• Individuals need/desire for a good or service

• The amount products a business has

• having a answer

How is competition in the market place "sparked"

• high demand for a product

• low demand for a product

• high supply

• low supply

Which product was in high demand/competitive in 2020?

• CD's

• Playstation 3

• Valentine's Day cards

• Masks

If you have too much supply what should you do?

• Give product/service away

• Make prices more expensive

• Make prices cheaper

• Keep everything the same

When supply/demand meet on a graph it is called the equilibrium

• Hello

• True

• False

• Bacon