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ECON 11

Total questions: 10

Worksheet time: 10mins

Name
Class
Date
1.

TARMKE

a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange

(a)  

2.

CIETSALTYI

it measures the percentage change of one economic variable in response to a change in another

(a)  

3.

UPRSSLU

it is the amount of an asset or resource that exceeds the portion that's actively utilized

(a)  

4.

RIPCE ORFLO

it is the lowest price that one can legally pay for some good or service

(a)  

5.

SONCEUMRS

the one who purchases goods and services for personal use

(a)  

6.

LIBEIUQRUMI

it is a state in a market-based economy in which economic forces – such as supply and demand – are balanced

(a)  

7.

CEIXES ATX

any duty on manufactured goods that is levied at the moment of manufacture rather than at sale

(a)  

8.

STARHOEG

it is a condition where the quantity demanded is greater than the quantity supplied at the market price

(a)  

9.

EPRCI TCORLON

concern measures implemented to control or affect the prices of imported goods, and/or establish the domestic price of certain products

(a)  

10.

CRIEP NELICGI

it is a limit on the price of a good or service imposed by the government to protect consumers by ensuring that prices do not become prohibitively expensive

(a)