True/False Indicate whether the
statement is true or false.
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1.
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Changes in one part of the
Producers-Consumers-Distributors relationship has an effect on all other parts.
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2.
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Supply and demand affect the
amount of goods and services produced and purchased.
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Multiple Choice Identify the
choice that best completes the statement or answers the question.
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3.
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Which of the following do NOT
contribute to economic interdependence?
a. | Producers | c. | Distributors | b. | Government | d. | Consumers |
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4.
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Which of the following parts of
the Business Cycle can be skipped in certain situations?
a. | prosperity | b. | recession | c. | depression | d. | recovery |
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5.
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Which of the following factors
doesn’t normally affect consumer demand?
a. | income | c. | substitutes | e. | consumer tastes | b. | fads | d. | production
costs |
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Multiple Response Identify one
or more choices that best complete the statement or answer the question.
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6.
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Choose all that are
correct. Distributors....
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Completion Complete each
statement.
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7.
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The good or service that you
give up when you choose another good or service is known as _________________
________________.
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8.
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________________ sell their
labor to Producers.
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9.
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________________ sell produced
goods and services to distributors.
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10.
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Terms or phrases that describe
this state of the Business Cycle are: -decreased confidence in the economy -reduction in
spending -increased unemployment What is the state of the business cycle?
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