Econ Unit 2 Quizizz

Which term refers to the total market value of all final goods and services produced within a country in a given period?

• Tariff

• GDP

• Inflation

• Wealth

Which term refers to the increase in the general price level of goods and services in an economy over a period of time?

• Inflation

• Scarcity

• Wealth

• Worth

What is the term for a company whose stock is owned jointly by the shareholders?

• Joint-stock company

• Merchant

• Producer

• Consumer

Which term describes a person or organization that uses goods or services?

• Producer

• Consumer

• Merchant

• Import

Which term refers to the value of all assets owned by an individual or entity?

• Wealth

• Worth

• Market Price

• Property

What is the term for the price at which a good or service is bought and sold in a market?

• Market Price

• Worth

• Property

• Bank

What is the term for a person who buys and sells goods for profit?

• Merchant

• Producer

• Consumer

• Import

Which term describes a good that is both excludable and rivalrous?

• Private good

• Public good

• Non-excludability

• Non-rivalry

Which tool is used to measure the economy locally, nationally, and globally?

• GDP (Gross Domestic Product)

• CPI (Consumer Price Index)

• Unemployment rate

• All of the above

What is the comparison between intrinsic and extrinsic value?

• Intrinsic value is based on external factors, extrinsic value is based on internal factors

• Intrinsic value is based on internal factors, extrinsic value is based on external factors

• Both are based on internal factors

• Both are based on external factors