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Economics

Authored by Ria John

Architecture

University

Used 15+ times

Economics
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods that are intended for final use by the consumer directly

Capital Goods

Consumer Goods

Mechanical Goods

Utility goods

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods used in the production of other goods.

Capital Goods

Physical Goods

Consumer Goods

Service Goods

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Total amount of satisfaction that a

consumer derives by consuming a product. In other words, it

can be described as the satisfying power of any good or

commodity.

Utility

Value

Wealth

Price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the maximum amount a consumer is willing to pay for

an item in a market economy, or the amount of time an individual will sacrifice waiting

to obtain a government-rationed good in a socialist economy.

Utility

Value

Wealth

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

amount paid for a product/good/commodity

Value

Wealth

Price

Utility

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

accumulation of valuable economic resources that can be

measured in terms of either real goods or money value

Utility

Value

Price

Wealth

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

studies how the

individual parts of the economy make

decisions to allocate limited resources

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