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5 Written Questions

5 Matching Questions

  1. default
  2. distribution of income
  3. corporation
  4. diminishing returns
  5. demand curve
  1. a graph showing the quantity demanded at each and every possible price that might prevail in the market at any given time
  2. b form of business organization recognized by law as a seperate legal entity with all the rights and responsibilities of an induvidual, including the right to buy & sell property, enter into legal contracts, and be sued
  3. c the act of not repaying borrowed money
  4. d stage of production where output increases at a decreasing rate as more units of variable input are added
  5. e way in which the nations income is divided among families, induviduals, or oter designated groups

5 Multiple Choice Questions

  1. the goods and services that a nation produces and then sells to other nations
  2. unemployment directly related to swings in a business cycle
  3. organized way a society provides for the wants and needs of its people
  4. combination of desire, ability, and willingness to buy a product
  5. feature of taxation that allows stockholders dividends to be taxed both as corporate profit and as personal income

5 True/False Questions

  1. economic modelorganized way a society provides for the wants and needs of its people


  2. embargoprohibition on the export or import of a product


  3. economicssocial science dealing with the study of how people satisfy seemingly unimited and competing wants with the careful use of scarce resources


  4. depressionstate of the economy with large numbers of unemployed, declining real incomes, overcapacity in manufacturing, general economic hardships


  5. craft unionnon profit service cooperative that accepts deposits, makes loans, and provides other financial services


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