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3 Written questions

3 Multiple choice questions

  1. anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
  2. the price at which the amount supplied is equal to the amount demanded
  3. A measure of the sensitivity of demand to changes in price

3 True/False questions

  1. supply and demandgoods that can be used in place of other goods (Colgate/Crest, Toyota/Honda)

          

  2. economic interdependencethe branch of economics that studies the economy of consumers or households or individual firms

          

  3. product marketthe point at which quantity demanded and quantity supplied are equal

          

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