Microeconomics Reviewer - Joshua Sumayao
Authored by Joshua Sumayao
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42 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A branch of economics that considers the behavior a decision takers within the economy.
Demand
Gross Domestic Product
Supply
Microeconomics
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a means by which society or government is organized and distribute available resources, services, and goods across a geographic region or country.
economic system
traditional economic system
command economic system
market economic system
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_____ is based on goods, services, and work all of which follow certain established trends.
economic system
traditional economic system
command economic system
market economic system
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is the common and communist society since production decisions the preserve of the government. Also known as planned system.
economic system
mixed system
command economic system
traditional economic system
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an economic system that regulates from the people and the relationship between supply and demand.
traditional economic system
command economic system
market economic system
mixed system
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
combine the characteristic of the market and command economic system. also known as the dual system.
mixed system
economic system
traditional economic system
market economic system
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an economic resources that is sometimes referred to as entrepreneurship.
law of diminishing returns
the price mechanism
technology
scarcity
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