Economics Essentials Quiz

The demand for goods and services by individuals in an economy

The demand for a specific good or service in an economy

The demand for goods and services by businesses in an economy

The total demand for goods and services in an economy at a given time (correct)

The scarcity of resources relative to unlimited wants and needs (correct)

The lack of government intervention in the economy

The inability of producers to meet consumer demand

The unequal distribution of wealth in an economy

The cost of resources used in production

The value of the next best alternative foregone when making a choice (correct)

The total cost of producing a good or service

The price of a good or service in the market