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Eco:FinalExRevision

Authored by Glenn Morris

Business

11th Grade

Used 2+ times

Eco:FinalExRevision
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People with a high salaries can afford very _____ goods.

expensive

zero

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Any household or business expense which does not change, is called a ______cost.

variable

fixed

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All producers as a group present the ______ supply curve.

market

individual

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government act as the _______ when introducing laws to prevent harm to citizens.

guardian

protector

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumers buy more of a product at a lower price and less at a higher price, it is called law of ______

demand.

supply

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Government's efforts to control inflation and the interest rate, is to ensure _____ within the economy.

cost stability

price stability

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When consumers have to choose between two similar products, it is referred to as the _____

income effect.

substitute effect.

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