Economics Basics Unit Test Answers
1. Computers
2. Earning an allowance for doing chores
3. Kitchenware purchased online from China
4. Paying money to an industry to encourage it to make goods in the country
5. People in certain industries earn lower wages or sell fewer products.
6. Breaking up large companies to increase competition
7. Workers learn to do their jobs more quickly when they repeat the same tasks.
8. An economic boom
9. Industries will increasingly focus on using interdependence.
10. Lower price, higher quantity
11. The price of one good or service to another
12. Limited money forces consumers to make choices.
13. When supply equals demand
14. The price of ink cartridges drops.
15. Reward
16. Customers value different types of deals.
17. An inventor designs and produces a new type of car.
18. It decreases the amount of resources available to other industries.
19. Decrease in positive incentives to work
20. A special holiday sale
21. Malik will be willing to take care of more lawns that week at the higher price.
22. Limited role of government
23. Human resources
24. They provide loans for consumers and investors.
25. Money that could have been made from families with young children
26. His football skills will get a little better.
27. The magazines, The bathing suit
These are correct for February 2024
these are for the 28 question ones. 11/7/2023 as in typing this =) (this is for those who had a hard time finding the answers to review their test like i did)
1. D
2. A
3. D
4. A
5. C & D
6. A
7. C
8. D
9. C
10. D
11. B
12. C
13. D
14. C
15. C
16. B
17. C
18. C
19. C
20. C
21. B
22. B
23. C
24. D
25. B
26. D
27. A
28. C
*Me just taking my time and asking each question individually on Questions LLC*
Here are the correct answers as of Semester B 2023:
1.) A & D
2.) D
3.) C
4.) A
5.) C
6.) B
7.) D
8.) C
9.) A
10.) B
11.) A
12.) D
13.) C
14.) A
15.) A
16.) B
17.) C
18.) A
19.) D
20.) A & D
21.) A
22.) B
23.) B
24.) C
25.) B & D
26.) D
27.) A
You're welcome God bless have a good day :D
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1. What is the definition of economics?
A: Economics is the study of how people choose to use resources to satisfy their wants and needs.