1) When a market is equalized it is in ___________ a) Equalization b) Equilibrium c) Equality d) Equalitaral 2) A shortage occurs when a) Demand exceeds Supply b) Supply exceeds demand c) Demand is higher than supply d) Demand is lower than supply 3) What is inflation a) Money gaining value over time b) Currency losing value over time c) Dollars losing value over time d) A hot air balloon getting bigger 4) We generally like to in places where cost of living is __________ a) High b) Low c) In equlibrium d) Out of equilibrium 5) ________ is a business expenses subtracted from it's earnings a) Net earnings b) Final growth c) Profit d) Loss 6) _________: The human effort that is required for production of goods and services. a) Work b) Labour c) Hard work d) Human production service 7) Economists refer to all the consumers in the economy as the _______________ a) Household sector b) Consumers c) Consumer sector d) Clientelle 8) The minimum pay workers must receive is called a) Minimum pay b) Liveable wage c) Minimum cheque d) Minimum wage 9) The additional cost incurred when taking a loan a) Increase percentile b) Exterior Profit c) Interest d) Tax 10) The income that shareholders are payed by companies a) Wages b) Stock income c) St0nks d) Dividend e) Dividedn

Economics Test

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?