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Resource Market

Authored by John Robinson

Social Studies

12th Grade

Resource Market
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The firm's total labor cost:

is 0abc

is 0wbc

is 0wabc

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a resource market in economic terms?

A place where goods and services are exchanged

A market where resources or inputs are bought and sold

A market for finished products

A place where only natural resources are traded

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is NOT typically considered a resource in a resource market?

Labor

Capital

Entrepreneurship

Finished goods

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a resource market, who are the primary buyers?

Consumers

Firms

Government

Foreign investors

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What role do households play in the resource market?

They supply resources like labor

They demand goods and services

They regulate the market

They provide financial capital

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes the flow of resources in a resource market?

From firms to households

From households to firms

From government to firms

From firms to government

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How does the price of resources affect the resource market?

It has no effect

It determines the quantity of resources supplied and demanded

It only affects the demand side

It only affects the supply side

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