Questions:
1. A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
a. supply
b. monopoly
c. export
d. stocks
2. A certificate issued by a government or private company which promises to pay back with interest the money borrowed from the buyer of the certificate: The city issued bonds to raise money for putting in new sewers.
. buyers
a. bonds
b. cost
c. goods
3. Exchange goods without involving money.
. buyers
a. barter
b. bonds
c. cost
4. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
. barter
a. services
b. supply
c. scarcity
5. A limiting factor on purchases
. restrictions
a. stocks
b. commodities
c. services
5 True/False questions
1. macro economics → deals with behavior and decision making by small units such as individuals and firms
True False
2. open market → Exchange goods without involving money.
True False
3. renewable resource → Any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time
True False
4. commodities → study of how people and societies use limited resources to satisfy unlimited wants; the management of scarcity and choice
True False
5. trade → Items businesses sell that can be physically weighed or measured, such as iPods and CDs.
True False