Economics - Ch. 7 - 9 TEST

the money that is left after expenses are paid​ (a)  

• consumers
• profit
• scarcity
• monopoly
• standard of living

a way of telling how well people are getting what they need and want​ (a)  

• consumers
• scarcity
• monopoly
• standard of living
• profit

one business having all the market with no competition​ (a)  

• consumers
• scarcity
• monopoly
• profit
• standard of living

people who buy goods and services​ (a)  

• consumers
• scarcity
• profit
• standard of living
• monopoly

not enough of a product​ (a)  

• scarcity
• profit
• standard of living
• monopoly
• consumers

The goal of most businesses is to make a profit.

• True

• False

If the economy is good, the standard of living goes up.

• True

• False

Some businesses are companies owned by a lot of people.

• True

• False

Rent and advertising are examples of expenses.

• True

• False

Goods and services that are bought and sold are consumers.

• True

• False