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10th Grade Economics Final Exam
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10th Grade Economics Final Exam
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25 Questions

1. List some things that influence demand

2. Russia has taken steps toward becoming a ______________ economy.

3. The study of how people use their scarce or limited resources

4. What is NOT an example of complimentary goods?

5. With complimentary goods - if the price of one goes up, the demands for the other will go ___________.

6. Market economies are based on economic freedom of _________________.

7. In chapters 3 and 4, Cal makes and sells T-shirts. He later finds out that he can make more money selling hats, so he stops making shirts. He makes this decision makes on the ___________________________________ of making shirts.

8. Before Germany was reunited, East Germany had a _______________ economic system.

9. Something provided by nature

10. Not having enough of a resource to satisfy needs and wants

11. Human-made items like machines or tools

12. Type of business owned by one person

13. The Law of Supply states that...

14. A person who comes up with ideas for producing goods and services

15. In the U.S., postal service is provided by ______________.

16. List 3 examples of Costs of Production.

17. What is profit?

18. If you can speed up the production of a good, you would probably want to make more. This would be an _____________ in supply.

19. Supply has to do with ______________.

20. An act performed by others for money

21. What about the lakeside view that draws people to the restaurant?

22. A shortage is...

23. When there is an increase in supply, the supply curve will shift to the ___________.

24. In market economies, businesses have _____________ power.

25. When there is a decrease in supply, the supply curve will shift to the __________.

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