
econ test 123
Quiz
•
History
•
12th Grade
•
Practice Problem
•
Easy
Moriah Guildarie
Used 22+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Microeconomics
are the consumers of the productive resources (factors of production) in the circular flow model.
are the owners of the productive resources (factors of production) in the circular flow model
a model economists use to show the relationships in the economy
a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Circular Flow Diagram-
are the owners of the productive resources (factors of production) in the circular flow model
a model economists use to show the relationships in the economy.
Place where businesses sale good and services to households.
are the consumers of the productive resources (factors of production) in the circular flow model.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Households
are the consumers of the productive resources (factors of production) in the circular flow model.
a model economists use to show the relationships in the economy.
are the owners of the productive resources (factors of production) in the circular flow model
Place where businesses sale good and services to households.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Businesses
a model economists use to show the relationships in the economy.
are the owners of the productive resources (factors of production) in the circular flow model
Place where businesses sale good and services to households.
are the consumers of the productive resources (factors of production) in the circular flow model.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Product Market
Place where businesses sale good and services to households.
are the consumers of the productive resources (factors of production) in the circular flow model.
a model economists use to show the relationships in the economy.
are the owners of the productive resources (factors of production) in the circular flow model
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Factor Market
Place where businesses sale good and services to households.
says that as price rises the quantity a seller is willing and able to sell will increase.
Place where businesses buy productive resources (land, labor capitol) needed to produce goods and services
are the owners of the productive resources (factors of production) in the circular flow model
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
law of supply
says that as price rises the quantity a seller is willing and able to sell will increase.
Place where businesses sale good and services to households.
says that as the price of a good rises, the quantity of the good consumers are willing and able to buy will decrease
Place where businesses buy productive resources (land, labor capitol) needed to produce goods and services
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