Economics Test
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Last updated over 3 years ago
13 questions
Required
1
It’s April in Florida and many people need umbrellas. There are not many umbrellas available in stores. The SUPPLY for umbrellas is ______?_____.
It’s April in Florida and many people need umbrellas. There are not many umbrellas available in stores. The SUPPLY for umbrellas is ______?_____.
Required
1
It’s Hurricane season and many people need to purchase batteries in case there is a storm. There are not many AA batteries, but there are plenty of AAA batteries. The DEMAND for AA batteries is ___?___.
It’s Hurricane season and many people need to purchase batteries in case there is a storm. There are not many AA batteries, but there are plenty of AAA batteries. The DEMAND for AA batteries is ___?___.
Required
1
Match the vocabulary to it's definition.
Match the vocabulary to it's definition.
| Draggable item | arrow_right_alt | Corresponding Item |
|---|---|---|
Demand | arrow_right_alt | When there is not enough of something. |
Scarcity | arrow_right_alt | The amount of a good or service available. |
Supply | arrow_right_alt | How much people want the good or service. |
Required
1
The school is selling yearbooks, but there is not enough for everyone. This is an example of __?__.
The school is selling yearbooks, but there is not enough for everyone. This is an example of __?__.
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1
When an item is wanted by many people, the item is in ___?___ demand.
When an item is wanted by many people, the item is in ___?___ demand.
Required
1
When you have few of an item, but many people want it, your item is in high ___?____.
When you have few of an item, but many people want it, your item is in high ___?____.
Required
1
When you have few of an item, but many people want it, your item is in low ___?____.
When you have few of an item, but many people want it, your item is in low ___?____.
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1
Consumers ___?___ goods or services.
Consumers ___?___ goods or services.
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1
CHOOSE ALL THAT APPLY. Producers ___?___ goods or services.
CHOOSE ALL THAT APPLY. Producers ___?___ goods or services.
Required
1
A chef is a __?__.
A chef is a __?__.
Required
1
A person getting a haircut is a __?__.
A person getting a haircut is a __?__.
Required
1
Which is a service?
Which is a service?
Required
1
What is a good?
What is a good?