Business & Economics Assessment

People who make goods or provide a service

• consumers

• needs

• producers

If the supply of a good is higher than the demand, what happens to the price?

• stays the same

• price increases

• price decreases

Which type of economy involves trading, and doesn't usually use money?

• traditional

• command

• mixed

• market

What is a producer?

• a person who gives goods away

• things people would like to have

• the exchanged of goods and services without the use of money

• a person, company, or country that makes grows, or supplies goods for sale

What is a consumer?

• a person who takes things

• a person who purchases goods and services for personal use

• a person who takes good away

• the economic factors affecting the price, demand, and availability of a commodity

In a ______________ economic system, customs and traditions determine what and how to produce

• traditional

• market

• command

• mixed

You have a credit score of 350. Is this a good or bad credit score?

• Good

• Bad

Define debit:

• An account with a bank where the customer buys and pays for something at the same time

• Money that is owed

• The ability of a customer to obtain goods and services before payment, based on the trust that payment will be made in the future

• A bank account used to keep money for a long period of time that gains interest

Define credit:

• An account with a bank where the customer buys and pays for something at the same time

• Money that is owed

• The ability of a customer to obtain goods and services before payment, based on the trust that payment will be made in the future

• A bank account used to keep money for a long period of time that gains interest

When you invest in the stock market, your return depends on how well the business you bought shares from does. This is an example of a ________-risk investment.

• Low

• Moderate

• High