Economic terms quiz

Экономия ресурсов

• economics of resources

• economic resources

• economy of resources

• to economize resources

What Institute do you study at?

• Institute of economy

• Institute of economics

• Economic and management institute

• Institute of economics and management

What economy is based on cultural customs and beliefs?

• traditional economy

• command economy

• market economy

• mixed economy

What economy has both privately owned and state owned industries?

• command economy

• market economy

• traditional economy

• mixed economy

A place where buyers and sellers exchange goods and services

• company

• market

• stock market

• insurance company

Income that a firm generates through trading its goods and services

• profit

• cost

• turnover

• expences

The amount of money left after deducting all expenses from revenue

• income

• profit

• turnover

• tax

Objects that can satisfy people's wants

• goods

• services

• demand

• supply

The market value of all final goods and services produced in a country in a calendar year.

• labor market

• GNP

• GDP

• inflation rate

How does the government pay for services it provides? (parks, police, fire department) 

• People pay to use the services.
• The government collects taxes.
• The government services are free.
• The government charges a monthly fee.