Reference no: EM13814923

Define the following

1. A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
   1.  supply
   2.  monopoly
   3.  export
   4.  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.
   1.  buyers
   2.  bonds
   3.  cost
   4.  goods
3. Exchange goods without involving money.
   1.  buyers
   2.  barter
   3.  bonds
   4.  cost
4. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
   1.  barter
   2.  services
   3.  supply
   4.  scarcity
5. A limiting factor on purchases
   1.  restrictions
   2.  stocks
   3.  commodities
   4.  services

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