#1
Which of the following is a characteristic of a command economy?
#2
What does GDP stand for in economics?
#3
What is the term for a sustained increase in the general price level of goods and services in an economy over a period of time?
#4
What is the economic term for the total amount of money or assets owned by an individual or entity?
#5
Which of the following is a measure of the average prices of a basket of goods and services consumed by households?
#6
What is the term for the excess of government spending over government revenues during a certain period?
#7
Which economic concept refers to the total value of goods and services produced within a country's borders in a specific time period?
#8
What is the term for the maximum amount of a good that producers are willing and able to sell at a certain price during a given period?
#9
What is the term for the measure of responsiveness of the quantity demanded or supplied of a good to a change in its price?
#10
Which of the following is NOT a factor of production according to classical economics?
#11
What term refers to a situation where the production of one good increases, resulting in the opportunity cost of producing another good to rise?
#12
Which economic concept suggests that as production of a good increases, the cost of producing each additional unit of that good decreases?
#13
Which economic theory advocates for minimal government intervention in the economy, believing that markets will self-regulate?
#14