Chapter 4 Test Review

Front

When there is a rise in the prices of many goods and services it is called:

Back

inflation

Front

The amount of a product that businesses have to sell is the:

Back

supply

Front

The type of money used in a particular place is the:

Back

currency

Front

Banks pay people with a savings account a fee called ________________.

Back

interest

Front

True or False: The government decides what goods or services to sell in a free market system.

Back

False

Front

True or False: Opportunity Cost is the money a business has left over after it pays all its costs.

Back

False

Front

True or False: Exports are goods that are shipped to another country to be sold.

Back

True

Front

Which choice shows a capital resource?

Back

Front

Which shows an advertisement with a nonmonetary incentive?

Back

Front

What is the opportunity cost if you choose the pop-it?

Back

The value of the mustache.