Question

Question 11 of 17

Desires that do not require money to be obtained are:


Select an answer from the options below.

A

economic wants

B

noneconomic wants

C

capital goods

D

natural resources

Question 12 of 17

Something’s usefulness and the degree to which wants are satisfied is called:


Select an answer from the options below.

A

consumption

B

distribution

C

economic utility

D

economic want

Question 13 of 17

The five types of economic utility are task, position, and what else? Select THREE options.


Select your answer(s) from the options below.

A

cost

B

form

C

place

D

use

E

time

Question 14 of 17

Turning cotton into a shirt increases its:


Select an answer from the options below.

A

form utility

B

task utility

C

place utility

D

time utility

Question 15 of 17

There is a flow that keeps economies moving that involves production, distribution, and what else? Select TWO options.


Select your answer(s) from the options below.

A

exchange

B

consumption

C

transportation

D

inflation

E

behavior

Question 16 of 17

A general increase in prices in an economy is:


Select an answer from the options below.

A

inflation

B

consumption

C

deflation

D

distribution

Question 17 of 17

Which term means to reduce spending in order to save money?


Select an answer from the options below.

A

consumption

B

economize

C

deflation

D

scarcity

Answer 1

Question 11: B (noneconomic wants)

Question 12: C (economic utility)

Question 13: B, C, E (form, place, time)

Question 14: A (form utility)

Question 15: A, B (exchange, consumption)

Question 16: A (inflation)

Question 17: B (economize)