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WHAT AM I?
What is my name?

What are the
characteristics of a
traditional
economy?




A. The way things have
always been done.
B. Decisions made by the
government.
C. Decisions made by
businesses
D. Decision are made to
promote competition.
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What is my name?

High
unemployment,
reduced
production, and low
consumer
spending,
describes which of
the stages of
business cycle.




A.
B.
C.
D.
Recovery
recession
Depression
Expansion
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What is my name?

What are the three
economic
questions?




A.
B.
C.
D.
Whom, how, when
When, whom, where
Whom, how, where
What, how, whom
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What is my name?

The economy is
slowing, people are
laid off, spend is
slowing down, what
phase of the
business cycle is
this.




A. Depression
B. Recession
C. Trough
D. Recovery
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What is my name?

The
government
tries to
control
inflation by:

A. Encouraging people to take
out a loan.



B. Raising Interest Rates
C. Lowering the price of
goods
D. Increase the number of
people working
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What is my name?

In this economy
the government
decides what shall
be produced,
which business
will produce, and
who will get what
is produced.




A.
B.
C.
D.
Traditional
Mixed
Market
Command
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What is my name?

What refers to the
change in price
has little effect on
demand ?




A.
B.
C.
D.
Inelastic demand
Elastic Demand
Equality
Inequality
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What is my name?

What exist when
supply exceeds
demand ?




A.
B.
C.
D.
Shortage
Demand
Supply
Surplus
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What is my name?
 When
a
product is a
luxury,
demand is ?




A.
B.
C.
D.
Elastic
Equilibrium
Inelastic
Surplus
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The End