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Business Economics Questions - All Grades

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Grade 6 Business Economics
Things used to produce goods and services.
  1. human resources
  2. resources
  3. business
  4. capital resources
Grade 6 Business Economics
If the demand is        high        the supply will be low.
Grade 6 Business Economics
The skills and abilities of workers used in production.
  1. responsibility
  2. right
  3. human resources
  4. capital resources
Grade 6 Business Economics
A system in which people and businesses buy and sell goods, services, and resources.
  1. market
  2. business
  3. community
  4. economy
College Business Economics
                     Positive economics                      is an analysis that answers the questions, "What is?" or "What will be?"

Answer: Positive economics
Grade 6 Business Economics
Name the four most meaningful words in economic studies.
Grade 6 Business Economics
Things used in production that occur naturally in the world, such as water.
  1. natural resources
  2. inventory
  3. human resources
  4. citizen
Grade 5 Business Economics
Name the 3 types of resources and list 2 examples for each resource.
Grade 6 Business Economics
What is the definition of 'economics'?
Grade 6 Business Economics
What is the definition of 'scarcity'?
Grade 6 Business Economics
What is the difference between a consumer and a provider?
  1. A consumer makes the item and the provider buys it
  2. Nothing, they are the same thing
  3. A producer makes the product and the consumer buys it
  4. None of the above
Grade 6 Business Economics
Give the definition for each word.
a) Commerce
b) Dividend
c) Industry
Grade 6 Business Economics
What is a capital?
Grade 10 Business Economics
When consumers buy less of something at higher prices, the                Price Effect               is being displayed.
Grade 6 Business Economics
A checker checks you out at Mr.D's. They are offering you a          service          .
Grade 6 Business Economics
A business is a place where people live, work, trade, and share.
  1. True
  2. False
College Business Economics
A variable is a small, one-unit change in value.

True or False?


Answer: False. A variable is a measure of something that can take on different values.
A marginal change is a small, one-unit change in value

*Don't get the two confused!*
College Business Economics
Directions: Read the prompt and decide which one of the elements of the economic way of thinking is displayed.

[To explore the relationship between the quantity and price of apples, we must assume that the consumer's income-and anything else that influences apple purchases-doesn't change.]

Answer: Isolate Variables

*The other two are marginal change (thinking at the margin) and using assumptions to simplify.*
Continuing Education Business Economics
The process of making "dirty" money appear to be "clean" is called what?
  1. Anti-money laundering
  2. Money laundering
  3. Bank secrecy
  4. Financial education
Continuing Education Business Economics
The following are examples of cash in transactions:
  1. Money exchanged
  2. Loan payment
  3. Savings deposit
  4. All of the above
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