G10, Basic Econ Test, 2023-24

What is the direct trading of goods and services without using money called?

• Barter

• Trade

• Investing

• Interest

What are goods produced and used to make other goods or services called?

• Natural Resources

• Human Resources

• Capital Resources

• Consumer

What occurs when people and nations depend on one another to provide the goods and services they want?

• Surplus

• Inflation

• Specialization

• Interdependence

What is the measure of how many goods or services are made by each worker?

• Interest Rate

• Inflation

• Profit

• Productivity

What is the general rise in prices over time called?

• Unemployment Rate

• Interest Rate

• Surplus

• Inflation

What is the method used by a society to produce and distribute goods and services called?

• Economic System

• Command Economy

• Mixed Economy

• Market Economy

What is the percentage of people looking for work but who cannot find work called?

• Surplus

• Inflation

• Unemployment Rate

• Interest Rate

What is the delivery or movement of goods or services from producers to consumers called?

• Trade-off

• Distribution

• Savings

• Scarcity

What is the exchange of goods or services or money with people for other goods or services or money called?

• Exports

• Taxes

• Incentives

• Trade

What is the next most valuable alternative you give up when you make a choice or decision called?

• Savings

• Incentives

• Opportunity Cost

• Interest