Economics Supply and Demand Test

What is your name?

For each definition, select the correct term from the dropdown choices. A. Helps explain how individual economic decisions are made

• Microeconomics
• Demand
• Supply
• Subsidy
• Profit

For each definition, select the correct term from the dropdown choices. B. Quantities of a good or service that producers are willing to sell at all possible market prices

• Supply
• Demand
• Subsidy
• Profit
• Marginal Utility

For each definition, select the correct term from the dropdown choices. C. Deals with the economy as a whole and decision making by large units such as governments

• Macroeconomics
• Demand
• Supply
• Subsidy
• Profit

For each definition, select the correct term from the dropdown choices. D. Additional satisfaction that is derived from each unit received

• Marginal Utility
• Demand
• Supply
• Subsidy
• Profit

For each definition, select the correct term from the dropdown choices. E. Occurs whenever we do not have enough resources to produce all the things we would like to have

• Scarcity
• Demand
• Supply
• Subsidy
• Profit

For each definition, select the correct term from the dropdown choices. F. A government payment to an individual, business, or other group for certain actions

• Subsidy
• Demand
• Supply
• Profit
• Marginal Utility

For each definition, select the correct term from the dropdown choices. G. The desire, willingness, & ability to buy a good or service

• Demand
• Supply
• Subsidy
• Profit
• Marginal Utility

For each definition, select the correct term from the dropdown choices. H. Purchasing an item on the spot because of an emotional rather than planned decision

• Impulse Buying
• Demand
• Supply
• Subsidy
• Profit

For each definition, select the correct term from the dropdown choices. I. The alternative you face if you decide to do one thing rather than another

• Trade-off
• Demand
• Supply
• Subsidy
• Profit