Test Yourself. Иванова Ю.В - 45 стр.

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8. natural resources c) money used in the country 8.

9. opportunity cost d) agreement of individuals to buy and 9.

sell goods and services

10. currency e) goods and services necessary for survival 10.

A B С

11. demand a) looking to the past for the answers 11.

12. traditional b) business that is owned and 12.

controlled by one person

13. profit c) amount of a good or service a 13.

consumer is willing and able to buy

14. sole d) the amount of money that remains after 14.

proprietorship all costs of production have been paid

15. international e) a voluntary exchange of goods and 15.

trade services among people in different nations

A B С

16. franchise a) the difference between the value of a 16.

nation’s imports and its exports

17. consumer b) the study of the choices people make in 17.

an effort to satisfy their needs and wants

18. the balance c) goods that are owned by individuals or 18.

of trade businesses, rather than by the government

19. private property d) a contract in which a company agrees to 19.

let another person or group start a business

using its name to sell goods or services

20. economics e) a person who buys products 20.