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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. goods that can be used in place of other goods (Colgate/Crest, Toyota/Honda)
  3. to rely on others, and others rely on them, to provide the goods and services that we consume, a reliance on others, as they rely on you, to provide goods and services to be consumed

3 True/False questions

  1. microeconomicsthe branch of economics that studies the economy of consumers or households or individual firms

          

  2. price elasticitythe branch of economics that studies the economy of consumers or households or individual firms

          

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