SS Unit 3b Vocabulary - Quiz
| __ | 1. | money | | A. | management of resources for the entire country. | | __ | 2. | national economy | | B. | medium of exchange which can be used to measure value as a m | | __ | 3. | needs | | C. | items or services which are necessary for survival. (necess | | __ | 4. | opportunity cost | | D. | what is given up when an economic choice is made | | __ | 5. | producer | | E. | creator of goods or provides services. | | __ | 6. | profit | | F. | difference between production costs and revenues. | | __ | 7. | revenues | | G. | the full amount of money received for a product or service. | | __ | 8. | scarcity | | H. | the imbalance between unlimited wants and limited resources | | __ | 9. | services | | I. | work done by professionals. | | __ | 10. | shortage | | J. | limited supply and high demand |
| __ | 11. | specialize | | A. | only specific goods or services. | | __ | 12. | supply and demand | | B. | supplies limited and demands high, price goes up and vice | | __ | 13. | surplus | | C. | the supply of something is greater than the demand. | | __ | 14. | wants | | D. | guarantee on products | | __ | 15. | warranties | | E. | take out ($) from a bank as needed. | | __ | 16. | withdraw | | F. | items which are nice to have, but are not necessary to survi |
|
Studenten, die diese Prüfung ablegten, nahmen auch :