Unit 2/3 Vocab Quiz

Unit 2/3 Vocab Quiz

12th Grade

20 Qs

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Unit 2/3 Vocab Quiz

Unit 2/3 Vocab Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Christopher Vale

Used 30+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

an arrangement that bring sellers and buyers together for economic transactions

market

supply

demand

monopoly

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the total amount of goods and services offered for sale at various prices

market

supply

demand

monopoly

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the total amount of goods and services consumers are willing to buy at various prices

market

supply

demand

monopoly

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the price at which the quantity supplied in the market matches the quantity demanded in the market

equilibrium price

absolute advantage

coparative advantage

specialization

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

condition that occurs when someone can produce goods and services cheaper than other producers

equalibrium price

absolute advantage

comparative advantage

specialization

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

condition that occurs when someone can produce at a lower opportunity cost than other producers

equalibrium price

absolute advantage

comparative advantage

specialization

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

the development of skills and knowledge associated with one job or one area of expertise

equalibrium price

absolute advantage

comparative advantage

spcialization

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