
Basic Economic Terms
Quiz
•
Business
•
Professional Development
•
Practice Problem
•
Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Services
Actions that someone does for someone else, like haircuts or car repairs.
Products that are sold in stores.
Items that are manufactured in factories.
Tasks that can be completed independently.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Price
The amount of money needed to buy something.
A type of currency used in transactions.
The total cost of production for an item.
A discount applied to the original cost.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trade
A type of investment strategy
A method of communication between countries
A form of entertainment
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Import
To export goods or services to another country
To sell products within the same country
To manufacture products locally
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Export
To receive goods or services from another country
To produce goods for local consumption
To store goods in a warehouse
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Community
A group of people living in the same area who share things in common.
A collection of random individuals with no shared interests.
A type of social media platform for networking.
A geographical location with no inhabitants.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Demand
How much of something people want.
The total supply of goods available.
The price at which goods are sold.
The amount of money consumers are willing to spend.
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