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Economy Quiz
 

Economy Quiz  

created by Doctor2411 on 24 Nov 13
Medium level (62% of success)    20 questions - 13 players
Learn about how the world works on the money side of things, and test your knowledge at the same time!
 
1
What is a proposal that involves one of the parties offering something of value to the other party in an agreement?
   
   
   
2
What is a legally enforceable agreement between two or more parties?
What is a legally enforceable agreement between two or more parties?
   
   
   
3
Competition usually will ______ .
   
   
   
4
Prices rise when there are ______ of goods and services.
   
   
   
5
How is called an estimate of future cash, receipts and payments over a period of time?
   
   
   
6
What is the study of how individuals and societies satisfy their unlimited wants with limited resources?
What is the study of how individuals and societies satisfy their unlimited wants with limited resources?
   
   
   
7
What factors cause a change in supply?
What factors cause a change in supply?
   
   
   
8
All of the following are factors of production except...
   
   
   
9
True or False : The law of demand states that when the price of a good or service rises, consumers by more of it.
True or False : The law of demand states that when the price of a good or service rises, consumers by more of it.
   
   
   
10
How much interest does the bank charge you for a credit card?
How much interest does the bank charge you for a credit card?
   
   
   
11
What does ATM stand for?
   
   
   
12
What does EFTPOS mean?
   
   
   
13
What is unconscionable conduct?
   
   
   
14
Who are the ACCC?
   
   
   
15
When does market failure occur?
   
   
   
16
What is the economic problem?
What is the economic problem?
   
   
   
17
What is a wage?
What is a wage?
   
   
   
18
What is a contract?
   
   
   
19
What is the Foreign Exchange Market more commonly known as?
What is the Foreign Exchange Market more commonly known as?
   
   
   
20
A person who uses money to purchase goods or services is a...
   
   
   
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