Economicity Quiz 4
A bus driver, teacher, and dentist are examples of people involved in ____________
Selling Goods
Doing Nothing
Making Profits
Providing Services
If it cost you Rs.3000 to make a widget and you sell it for Rs.3000, what would you earn
Profit
Loss
Nothing at all
The Law of Supply states that, "the _________the price of a good, the _________ that the supplier should sell.
Lower, More
Higher , More
Higher , Low
Lower , Low
The Law of Demand states, "the ___________ the price of the good, the ____________ the buyer/consumer wants to buy."
lower, more
lower, less
Higher, more
What determines the prices of goods in a market economy?
Supply And Demand
Customs And Traditions
Customers
Government Agencies
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