UNIT 2- THE MARKET AND TRADE QUESTIONS WITH
ANSWERS
arrangement allowing for buyers and sellers to exchange things - CORRECT
ANSWER✅✅✅market
the concentration of the productive efforts of individuals, or businesses, on a limited number of
activities- to be better in that area - CORRECT ANSWER✅✅✅specialization
the organizational characteristics of a market(ex. one seller versus multiple sellers) - CORRECT
ANSWER✅✅✅market structure
the amount that consumers are wiling and able to buy - CORRECT ANSWER✅✅✅quantity
demanded
the amount, of a good or service, that suppliers are willing to supply - CORRECT
ANSWER✅✅✅quantity supplied
the amount of goods available - CORRECT ANSWER✅✅✅supply
the consumer desire and ability to buy something - CORRECT ANSWER✅✅✅demand
the price at which quantity demanded and quantity supplied are equal - CORRECT
ANSWER✅✅✅equilibrium price
goods or services sent to another country for sale - CORRECT ANSWER✅✅✅export
goods or services - CORRECT ANSWER✅✅✅import
ANSWERS
arrangement allowing for buyers and sellers to exchange things - CORRECT
ANSWER✅✅✅market
the concentration of the productive efforts of individuals, or businesses, on a limited number of
activities- to be better in that area - CORRECT ANSWER✅✅✅specialization
the organizational characteristics of a market(ex. one seller versus multiple sellers) - CORRECT
ANSWER✅✅✅market structure
the amount that consumers are wiling and able to buy - CORRECT ANSWER✅✅✅quantity
demanded
the amount, of a good or service, that suppliers are willing to supply - CORRECT
ANSWER✅✅✅quantity supplied
the amount of goods available - CORRECT ANSWER✅✅✅supply
the consumer desire and ability to buy something - CORRECT ANSWER✅✅✅demand
the price at which quantity demanded and quantity supplied are equal - CORRECT
ANSWER✅✅✅equilibrium price
goods or services sent to another country for sale - CORRECT ANSWER✅✅✅export
goods or services - CORRECT ANSWER✅✅✅import
