Week 8 Assessment

Name:

Evaluate responses using AI:

OFF

The system in which we exchange goods, services, and money within a society is call a (an)?

• Monopoly
• Fifedom
• Economy
• Business

What is the amount of goods or services available for sale?

• demand
• supply
• trade
• selection

What is the desire of a consumer or buyer to purchase certain goods or services?

• demand
• trade
• supply
• interest

The idea that two things are dependent upon each other is called?

• Penalty
• Interdependence
• Coupled
• Matched

The buying and selling of goods and services that takes place in an economy is called?

• taxes
• supply
• deficit
• trade

What is it called when the value of a country's exports exceeds the expense of its imports (i.e. more exports than imports)?

• Trade deficit (trade gap)
• Demand
• Economy
• Trade Surplus

A pure Market Economy is when business decisions are made and driven by supply and demand, without government interfering.

• True
• False

What type of economies exist in the countries of North Korea and Cuba?

• Market
• Mixed Market
• Command
• Emerging

The United States has a Mixed Market Economy.

• True
• False