Economics Final Exam
Flashcard
•
Social Studies
•
10th - 12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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35 questions
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1.
FLASHCARD QUESTION
Front
What is Economics?
Back
The study of how people manage scarce resources
2.
FLASHCARD QUESTION
Front
Who is the maker of goods?
Back
Producer
3.
FLASHCARD QUESTION
Front
Who is the purchaser of goods?
Back
Consumer
4.
FLASHCARD QUESTION
Front
Which is NOT a factor of production? Land, Labor, Economic benefit, Capital
Back
Economic benefit
5.
FLASHCARD QUESTION
Front
What is a simple definition of supply?
Back
Price increases - supply increase
6.
FLASHCARD QUESTION
Front
What is a simple definition of demand?
Back
Price increases means demand will decrease
7.
FLASHCARD QUESTION
Front
What is a monopoly?
Back
A business that does not allow competition.
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