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Economics Quiz-Chapter 5&6

Authored by 贞 杭

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9th Grade

Used 8+ times

Economics Quiz-Chapter 5&6
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21 questions

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1.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

Microeconomics is the study of the behaviour and decisions of households and __________, and the performance of individual markets.

2.

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45 sec • 1 pt

Macroeconomics is the study of the __________ economy.

3.

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1 min • 2 pts

The three key allocation decisions in economics are __________, __________, and who recieve the products.

4.

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45 sec • 1 pt

In a market economic system, resources are allocated through the __________ mechanism.

5.

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45 sec • 1 pt

A __________ economic system is one where the government makes all the crucial decisions and owns most resources.

6.

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45 sec • 1 pt

When demand for a product increases, its price will __________, leading firms to produce more of it.

7.

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45 sec • 1 pt

Market __________ occurs when demand and supply are equal at the current price.

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