Economics Quiz

Done in a way that prevents something from happening

• Prohibitively

• Import

• Opportunity Cost

• Discount

To bring a product into a country to be sold there

• Prohibitively

• Import

• Opportunity Cost

• Discount

The value of the option that was not chosen whenever a choice is made

• Prohibitively

• Import

• Opportunity Cost

• Discount

An amount taken off a regular price

• Prohibitively

• Import

• Opportunity Cost

• Discount

Seeming to be everywhere

• Equilibrium Price

• Elastic

• Glut

• Ubiquitous

A supply of something that is much more than is needed or wanted

• Equilibrium Price

• Elastic

• Glut

• Ubiquitous

Able to be changed; flexible

• Equilibrium Price

• Elastic

• Glut

• Ubiquitous

The price at which supply equals demand

• Equilibrium Price

• Elastic

• Glut

• Ubiquitous

The amount of money that workers are paid based on their occupation and the number of hours they work each week

• Circulation

• Accrue

• Market Value

• Wages

The price that consumers are willing to pay for something

• Circulation

• Accrue

• Market Value

• Wages