Quizizz--Economics (Module 2--Element 1.5)--Transaction Costs

Quizizz--Economics (Module 2--Element 1.5)--Transaction Costs

12th Grade

24 Qs

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Quizizz--Economics (Module 2--Element 1.5)--Transaction Costs

Quizizz--Economics (Module 2--Element 1.5)--Transaction Costs

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Rich Rogers

Used 1+ times

FREE Resource

24 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are transaction costs?

Costs associated with searching for trading partners and negotiating trades

Costs of producing goods

Costs of advertising products

Costs of storing inventory

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a reason for high transaction costs?

Physical obstacles like mountains

Lack of information

Political obstacles like taxes

High production costs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can transaction costs be reduced?

By increasing taxes

By investing in roads and communication

By raising product prices

By limiting trade partners

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the impact of high transaction costs on trade?

They increase the potential gains from trade

They reduce the potential gains from trade

They have no impact on trade

They make trade more efficient

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of middlemen in trade according to the text?

Increase the price of goods

Reduce transaction costs

Provide direct services to consumers

Manufacture goods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a middleman mentioned in the text?

Farmer

Manufacturer

Grocer

Consumer

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has technology impacted transaction costs in recent years?

Increased transaction costs

Made transaction costs irrelevant

Reduced transaction costs

Had no impact on transaction costs

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